My Axis Bank home loan application was approved, but they insisted on a blank cheque, even though I explained my concerns. I reluctantly provided one. Later, they sent a cheque for ₹5,200 to my SBI account for processing charges without any notice, which bounced. This resulted in my loan being cancelled. Can you advise me on how to proceed with a complaint against the bank and manager?

Apni Law
Apni Law
Law Forum › Category: Banking / Finance › My Axis Bank home loan application was approved, but they insisted on a blank cheque, even though I explained my concerns. I reluctantly provided one. Later, they sent a cheque for ₹5,200 to my SBI account for processing charges without any notice, which bounced. This resulted in my loan being cancelled. Can you advise me on how to proceed with a complaint against the bank and manager?
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Apni Law Staff asked 1 year ago

My Axis Bank home loan application was approved, but they insisted on a blank cheque, even though I explained my concerns. I reluctantly provided one. Later, they sent a cheque for ₹5,200 to my SBI account for processing charges without any notice, which bounced. This resulted in my loan being cancelled. Can you advise me on how to proceed with a complaint against the bank and manager?

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Best Answer

Apni Law Staff answered 1 year ago

You can file a complaint with the Banking Ombudsman against Axis Bank for unfair practices and violation of your right to informed consent. You can also lodge a complaint with the Reserve Bank of India (RBI) and seek redressal under the Banking Regulation Act, 1949.

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