MALPRACTICES AND DEFICICIENCY IN SERVICES BY ICICI BANK LTD
Dear Sir,
1. I am an Army Officer having a Salary Savings A/C No 016801507859 and Demat A/C No IN30290243674307 with ICICI Bank and had applied for Car loan of Rs 3, 00, 000/- (Rupees Three Lakhs) only through Gurdaspur (Punjab) Branch of Bank on 19 Feb 08 for purchase of Maruti Swift Vxi Model.
2. I opted for a Car loan from ICICI Bank at higher rate of interest than our Govt Dept/ Nationalized Bank since I was informed by the Bank through their website that I have a pre-approved car loan and further assured by the Gurdaspur Branch Manager that a hassle free loan would be handed over to me within seven days of my applying, which suited my requirement as I wanted to pick up that vehicle wihin seven days. The Bank has also been aggressively advertising through media about their high standard of customer care and efficient, hassle free, time bound processing of loan applications. Accordingly, I booked for the delivery of the Car which I intended to purchase.
3. However, the Bank took a period of well over a month to process the case and finally sanctioned the amount on 30 March 08, that too after repeated visits to the Bank as well as pursuing the case over telephone on daily basis with all concerned Bank officials. The Bank Officials kept me falsely assuring on daily basis that that loan amount would be handed over on next working day. A letter No 50299/Pers dated 29 Feb 08 on the subject was written by me to Gurdaspur Branch Manager. In response, the Branch Manager assured me in writing that the loan amount would be sanctioned within 24 hrs. After waiting for one more week, a complaint was e-mailed by me to Customer Care Officer through the Bank’s website on 08 March 08. In response, the Bank informed me through an e-mail that the loan documents would be processed within 48 hrs. Thereafter, on 13 March 08, the concerned Executive Officer from Amritsar Branch falsely telephonically informed me that the loan amount has already been sanctioned & dispatched, but the loan amount was finally sanctioned on 30 March only.
4. Further, while the interest had been calculated on Rs 3 Lakhs, the loan amount given was only approx Rs 2.90 Lakhs. The Bank had deducted one month EMI even before handing over the loan amount. The Bank had also taken an amount of Rs 9477/- on 08 March 08 for registration of vehicle, stating that that the registration of vehicle would be carried out by them.
5. The above caused a great amount of embarrassment, harassment, mental agony and financial loss to me as a Bank customer. May I therefore, request you to assist/advise me as to what actions I can take against the Bank for these malpractices so that other unsuspecting customers are made aware of and do not get victimised /harassed in future by the ICICI Bank.
6. Following is held with me as evidence in support of my complaint:-
(a) Letter written by me to Gurdaspur Branch Manager dated 29 Feb 08 and his reply thereto.
(b) E-complaint to Customer Care Officer dated 08 Mar 08 and his reply thereto.
(c) Records of mobile-tele-conversations on daily basis with under mentioned Bank officials:-
(i) Mr G S Bagga, Gurdaspur Branch Manager, Mob No 09888512581.
(ii) Mr Sanjeev, Exec Officer at Amritsar, Mob No 09988678669.
(iii) Mr Amit Kumar, Dealing Official at Amritsar, Mob No 09216104551.
(iv) Mr Hardip Singh, Dealing Official at Gurdaspur, Mob No 09417290465.
Yours sincerely
Lt Col A K Mor
Mob- 09878484482
e-mail ID- [email protected]
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