Dear Sir,
I have a loan account with LIC HFL for almost a year. The monthly dues are paid by ECS as we discussed and agreed between both of us. During our initial discussion for ECS payment they did not accept Citi Bank since they told me that they are having an issue so I was asked to open a new account with some other bank for ECS payment. I have chosen IDBI and asked the personnel in LIC to check whether I could go for this particular bank and they said no issues that I can go ahead. So I have opened an account with IDBI and provided all information to LIC and ECS gone well for few months and after couple of months my ECS got rejected and got a message from LIC that it was rejected by RBI. To my surprise how RBI could reject my ECS when they could able to get payment for initial few months. So I have contacted LIC HFL officer Mrs. Udra and she advised me to close the account and open a new account stating that there might be some problem with my account and I did so. And again after opening a new account my ECS went through fine and this month it got rejected by RBI!
When I approached the bank said that they have not received any request from LIC to clear fund and all the time I was having enough fund in my account. But LIC always blaming the bank and reluctant to resolve the issue as soon as possible!
I am really tired and frustrated to handle this issue which is happening every now and then. I am sure the bank does not have an issue but the LIC HFL do not provide proper information to RBI which is getting rejected.
I would really appreciate if some one from LIC could take responsibility and resolve this ASAP.
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