This is with reference to my complaint regarding 2 separate issues.
I have been banking with U.B.I, Tardeo branch since almost 20 years. My whole family accounts like individuals savings, NRE, Current and also deposits have been with this bank for a long time.
To enhance my business, I have taken a current O/D account with a limit of Rs. 22 lacs. Due to a good relation with my bank and me being an esteemed customer for a very long time my small cheques would be cleared even though it was above my o/d limit. But I always used to get a confirmation call whether to clear the cheque and if yes, to make neccessary arrangements to avoid exceeding my o/d limit.
All of a sudden one day when I check my o/d balance, it is 27 lac. When I check further details, I am informed that even though my balance being 22, 96, 000, a cheque for Rs. 3, 84, 000 has been cleared favouring Kotak Mahindra Bank. I have had a personal loan with Kotak Mahindra Bank and have been paying EMI's. Rather it was a top up on my existing loan which was given to me from Kotak. Due to some personal disputes, I did not let Kotak 3 months Emi's for Kotak clear. When I asked the Manager from U.B.I. I was given a reply that due to relationship and me being an esteemed customer the cheaue had been cleared. I tried my level best to convince them and get the payment reversed, but all in vain. Only thing I received a copy of the letter from U.B.I which was sent to Kotak asking them to return the whole amount as due to a bank error that amount was cleared.
After few months, my son, who resides in the U.S had sent a cheque to my wife, which valued app. Rs. 4 lacs, INR. Now again U.B.I., wihtout any cheque or acknowledgement, transferred this amount from my son's NRE account to my wife's savings account. Again I tried my level best to have this issue resolved as well, but to no avail. I even offered a proposal that atleast half of the amount be credited to my business account so that I could continue regularly.
When again and again I was given the same response that I have to ignore the bank's mistakes and try my level best to get my account within my o/d limit, I had no other option but to start with a different bank adn stop my transactions with U.B.I.
Today after 6 months I receive a letter stating that my account is in N.P.A and if I do not clear my outstanding balance my co-lateral security, i.e., my flat, which is again worth Rs. 1 Crore will be seized and I will have to bear the consequences.
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