[Warwithwheels]

Originally Posted by aeroamit

I have a different scenario to update here and at the same time need some suggestions also from the community members on how to proceed further

Any updates on the issue Amit?

[aeroamit]

My apologies on the delay in providing updates due to busy schedule at Work. Updates on the issue are :

Bank shared my parents contact information to other party and they received call from other party. Other party ( proclaiming himself to be Police official) called my parent and wanted us to pay 2 Lacs upfront to them. Then, I spoke to him and came to know about the scenario. His son was buying car and he paid 2 lacs through Cheque. Their Loan agent deposited the Cheque in our account after getting Loan account number from Bank. The whole episode came into picture due to Loan Agent depositing amount in wrong account. This transaction happened in Oct-2011 and they came to know about this in July-2012. We clearly told other Party that we will not be doing any kind of transaction with them as mistake has been committed by Bank and also, if he has any concerns he should reach me at my Canadian number and not to my Family members. I clearly updated that we have no role in that transaction and he should approach Bank only and not us in that regards. Deposited amount was his and will remain his. He even tried threatening me that he will write to Canadian embassy that I have committed Fraud. I asked him to Go ahead and fulfil his wish. Then We filed complaint with Banking Ombudsman regarding the incident, threat from Customer and Bank Manager's action of illegally sharing my Family contact number (even though I have updated them on not sharing my family contact details). 2 weeks back the Loan Agent came to our house and was requesting my parents to help him as the mistake was made by him. My parents updated him that we would like to help him also, but if someone want to blame us as Fraudster , then we won't be keeping quite and we will also use the Legal way. But after his further requests, my father updated him that we would like help him and talk to Bank face to face only in January-2013, once I am back in India. After that , till now we haven't heard anything from Bank or the other Party. In the meantime , we have received mails in which Banking Ombudsman had asked for clarification from the Chief Manager , Retail asset Branch.

Thanks everyone for your advices.

Regards
Amit

[aeroamit]

Latest update on the issue :

Received mail from Bank with following description

************************************************** *****************
RETAIL LENDING HUB HAZRATGANJ
Dec 3 (1 day ago)

Dear Sir,

With reference to above it is informed that we are ready to restore and value date the transactions subject to the following:

• To return us the original NOC (being issued by us) at the earliest preferably today itself.
• Confirm that our Bank Hypothecation is not deleted from the RC of vehicle from RTO Office, Lucknow.
• Confirm that you shall repay the EMIs of your car loan as usual till the closure of your car loan A/c.


We look forward for your early response so that the matter can be resolved.

With regards,

Chief Manager
Retail Assets Branch
Punjab National Bank,
Navchetana Kendra,
10 Ashok Marg
Lucknow 226 001 (U.P.)

************************************************** *******

My reply to above mail is:

Dear Sir
Thank you for understanding the situation and coming to a solution which was suggested by myself from Day 1 , this issue was discovered.

Please see my response to your queries.

• To return us the original NOC (being issued by us) at the earliest preferably today itself.
My Father will return the Original NOC ( issued by Bank) to you Branch ASAP.


• Confirm that our Bank Hypothecation is not deleted from the RC of vehicle from RTO Office, Lucknow.
We never initiated process for cancellation of NOC by RTO Office , Lucknow and vehicle is still with Hypothetication status.
Current Status : My Father returned NOC with official receipt from Bank.

• Confirm that you shall repay the EMIs of your car loan as usual till the closure of your car loan A/c.
As updated earlier, this was the solution we were looking for and the same was updated to Bank many times. We will continue to pay the remaining EMI's for the referred Car loan, as per the terms & Interest rate agreed when Car Loan was taken in October-2010.

I appreciate Bank's concern to resolve the issue, by taking appropriate action even though delayed. My Father ( Sh. XXXXXXXX) and my Brother-in-Law ( Mr.XXXXXXX) will be in connecting with you to get this issue resolved.

Regards
Amit K Singh

[hrman]

Alls well that ends well. Typical Government isn't it? They could have closed this issue a long time back without you or your family having to go through this pain.

[lapsi]

Originally Posted by aeroamit

• To return us the original NOC (being issued by us) at the earliest preferably today itself.
• Confirm that our Bank Hypothecation is not deleted from the RC of vehicle from RTO Office, Lucknow.
• Confirm that you shall repay the EMIs of your car loan as usual till the closure of your car loan A/c.

You have done or are willing to do everything that the bank said but you have not protected your interest.

Once the wrong credit to your account is reversed, you may be liable to pay additional interest on the delayed payment of EMIs and maybe even delayed payment penalties. They may even report the delayed payment of EMIs to CIBIL, thereby reducing your credit rating.

You should have clarified all this and taken it in writing from the bank before you agreed to reversal of the wrong credit.

You could try to get this sorted even now, but if it does not work out, it may be in your best interests to pay off the entire loan and get this over with at one stroke so that these issues do not come up in the future.

[subratasenn]

Originally Posted by lapsi

You have done or are willing to do everything that the bank said but you have not protected your interest.

Once the wrong credit to your account is reversed, you may be liable to pay additional interest on the delayed payment of EMIs and maybe even delayed payment penalties. They may even report the delayed payment of EMIs to CIBIL, thereby reducing your credit rating.

You should have clarified all this and taken it in writing from the bank before you agreed to reversal of the wrong credit.

You could try to get this sorted even now, but if it does not work out, it may be in your best interests to pay off the entire loan and get this over with at one stroke so that these issues do not come up in the future.

Absolutely right. Please sort out this issue. Since you have not paid EMIs for so many months, they might be charging extra interest.

It would be better to clarify this issue, pay the installments due during these months at one go (since they didn't get debited from your account) and make sure that you are not charged anything extra.

Banks generally tend to pass these things to the customer, but a discussion with the Branch Manager or the Loan Officer should solve any problem that might arise.

[aeroamit]

@ Lapsi & Sunratasenn.
Thanks for your advice. Regarding EMI's even for the period they were not collected by Bank were deposited always before due date in my PNB Savings account ( which was linked to EMI's) . We do not have to pay anything extra apart from regular EMI's as per written agreement from Bank. I am planning to close this once I am in India ( thats Jan-2013). Bank will collect deposited amount as regular EMI's, from the month they stopped collecting EMI's. All these solutions were agreed upon by Chief Manager ( Retail Asset Branch, PNB Lko).

[anand_hc]

Just wondering on few things:

Is it not responsibility of bank officials to check when requested for a loan account closure ? I think you need to place a request for pre-closure of loan.

What was the other party doing for 9 months when his account continued to be deducted for his car's EMI. Does not sound right for me. If I were him, I would query the first time additional EMI would get deducted. Also if he wanted to close his loan, would he not be getting it updated in his RC.

It seems really strange for me.

Bank officials need to play facilitator not wash hands like they are doing.

[NetfreakBombay]

Originally Posted by aeroamit

@ Lapsi & Sunratasenn.
Thanks for your advice. Regarding EMI's even for the period they were not collected by Bank were deposited always before due date in my PNB Savings account ( which was linked to EMI's) . We do not have to pay anything extra apart from regular EMI's as per written agreement from Bank.

Do monitor your credit score on CIBIL.

Reason is, even if Manager did whatever he needed to do to waive off Interest and other charges, how Bank's system would report it to CIBIL would usually not be obvious to him/her (this being an exception case).

[lapsi]

Originally Posted by NetfreakBombay

Do monitor your credit score on CIBIL.

Reason is, even if Manager did whatever he needed to do to waive off Interest and other charges, how Bank's system would report it to CIBIL would usually not be obvious to him/her (this being an exception case).

Agree. There is a systemic risk that his credit score will plummet.

Originally Posted by aeroamit

Regarding EMI's even for the period they were not collected by Bank were deposited always before due date in my PNB Savings account ( which was linked to EMI's) . We do not have to pay anything extra apart from regular EMI's as per written agreement from Bank. I am planning to close this once I am in India ( thats Jan-2013). Bank will collect deposited amount as regular EMI's, from the month they stopped collecting EMI's. All these solutions were agreed upon by Chief Manager ( Retail Asset Branch, PNB Lko).

While you are right in your own way, I would like to suggest that you look at the practicality of the situation.

• Your loan account has been closed by the bank.
• They will have to reopen it, which will cause various types of problems for the bank.
• Even if they reopen the account today, they will have to do it with effect from the date when it was closed.
• Your EMIs will not have been paid into the loan account even if you were depositing the amount in your Savings account.
• You have already collected money in your savings account to pay off 14 - 15 months EMI.
• Total amount in dispute is 2 lakhs.

A mistake has been made by them and as a goodwill gesture, you should co-operate with them, to sort out their problem.

Write a single cheque of Rs. 2 lakhs to the bank. Let your closed loan account remain closed. This will be easier for them and maybe for you too. You can put this whole episode behind you once and for all.

A word to the wise. That's all.

[vikram_d]

Originally Posted by NetfreakBombay

Do monitor your credit score on CIBIL.

My question is off topic, but is it possible to track your credit score on CIBIL? If yes, how?

[neofromcapone]

@vikram_d please refer to this thread on Team BHP - Now have Access to your CIBIL Credit report

[sa_kiran]

Originally Posted by vikram_d

My question is off topic, but is it possible to track your credit score on CIBIL? If yes, how?

Yes, you can. Visit https://www.cibil.com/online/credit-score-check.do

[autotranny]

Originally Posted by sa_kiran

Yes, you can. Visit https://www.cibil.com/online/credit-score-check.do

This is the correct method of obtaining the score by paying Rs 470.

However, many people normally take the easy way out of getting a CIBIL report generated by some acquaintance of theirs, working in the bank or having CIBIL access. Beware while you do this, because each enquiry made through a Bank ID is recorded in CIBIL as a loan application and will result in your score going down marginally each time. So ultimately your curiosity will result in your credit rating going down each time. [Quoted from personal experience ]

[djoel99]

I Have Similar Issue With SBI. But In My Case It Is About FD. Of Amount Close To 1L. Done In 2008. Recently I Got Statement Of Intrest Of More Than 10000.

When I Checked Statement. It Has My Name & My Address. But Different Account No. Which Was Connected To My PPF Account. Currently We Are Following Up With Bank About It. I Only Have PPF Account IN SBI.