HDFC Bank has my original RC Book. How to get it from them?

Sankar · 28th October 2008, 14:59

I have took a two wheeler loan from HDFC Bank to purchase my new Karizma. Loan got approved without any hassle and i got my bike a month back. The RC book was to be collected by the dealer and handed over to me. When i went to collect my RC book this afternoon i was told that the bank is keeping my original RC book and i was given a photocpy of the same.

Now this is not right as i've been told that i shall be getting the original RC book and i was supposed to give a copy to the bank. I even got an SMS from HDFC bank on 17th Oct telling me that copy of RC book and other related documents have not been submitted to the bank. From that mesage it's clear that bank needs only the copies and not the original document.

Now the question is how can i get the RC book from them? They're telling me it will be given after i close the loan. Now that IS PLAIN STUPID! What does the bank have to say if i'm travelling out of state on my bike and the cops there demand to see the original documents?! The person who answered me when i called the bank tells me that if i need the original RC book i have to give my original DL to the bank and then they will give me my RC book, once my work with the RC is over i have to return it to the bank and then they'll give me my DL!!! How stupid can they get??!

Now i need to know if the bank is legally allowed to keep the RC book of my motorcycle with them. I also need to know how i can get RC book from them. Without the original RC i cannot travel on my motorcycle.

Can anyone give me some pointers?

PAVAN KADAM · 28th October 2008, 15:04

Walk into the branch and talk to the branch manager.

Some plain stupid reasons being given. The bank does not have any right in retaining the original RC book copy of any client, nor do they have any rights to demand the original DL from the client.

Take it up with the branch manager of the respective branch and all will be well.

Shakensoul · 28th October 2008, 15:06

The bank cannot keep the original RC with them nor can they ask for your DL. On the RC it will be mentioned hypothecated to HDFC bank. Its no use talking to the phone representatives, maybe they are not aware or are trying to act smart. Visit the Loan branch personally and talk to the manager, I am sure that it would be sorted out.

deepak_ms · 28th October 2008, 15:14

Quote:

Originally Posted by Shakensoul

The bank cannot keep the original RC with them

When i bought pulsar had taken loan from bajaj finance. They had taken my Original RC book and the extra key. Once the loan got cleared they returned it.

But the same dint happen when i took the car loan..

jraj · 28th October 2008, 15:21

I guess this is how things work for 2 wheeler loan.
I remember getting my bike RC book from Bajaj finance after the loan was closed.Until then I only had a copy.Once the loan was closed,I received the original RC and the NOC from Bajaj finance.I then cancelled the hypothecation.

Shakensoul · 28th October 2008, 15:25

Oh...I was talking from a car loan POV.

Samurai · 28th October 2008, 15:54

Is there a different rule for 2-wheelers? I have loan on GV from HDFC bank and I have all the original papers and keys. Bank gets nothing other than EMI every month.

Sankar · 28th October 2008, 17:14

We had a talk over the phone with The Sales Manager of HDFC two wheeler loan section regarding this. He says they are instructed to keep the RC with them till i close the loan. When asked how i am supposed to travel if such is the case he didn't have any proper reply. His intention is not to release the RC book. We asked him to provide us with a letter in the bank's letter head stating that the RC book is with them and the reason they have for not releasing it, for which he has agreed to give within two days.

During the conversation, Sales manager himself said that the bank is retaining the RC books of the two wheelers in Trivandrum & Quilon districts.

I the bank is not doing the right thing by stereotyping all the two wheeler loan customers in the districts of Trivandrum & Quilon. If there is a rule it should be applicable to everyone.

Please note that other banks here at Trivandrum doesn't retain the RC book of two wheelers bought on loan. Eg: ICICI & SBI. They let the customers keep it.

I visited the bank and spoke with a lady representative because the sales manager was not there. She told me that the RC books were given to customers till a few months back and they stopped it since there were cases of defaulting. She even told me that i was not supposed to take the two wheeler out of the state and that such a clause was in the document!!

Man she must be kidding! I told her that i didn't see any such clause and that i'm going to ride where ever i like.

Can i complain to Banking Ombudsman regarding not releasing my RC book? Really the bike is totally useless to me if i'm not able to use it to travel outside Trivandrum.

If needed be how can i legally procede with this, i mean what should i do next?

phamilyman · 28th October 2008, 17:54

Complain to the ombudsman. besides the obvious fact that its stupid - they dont do it for cars!!

You can also say you wished to travel to Nepal and Bhutan, and this infringes on the very purpose of having bought the bike.

and let them know that in the event of default they will anyways come and seize the vehicle as they have the powers to do - why are they bothering with keeping the RC and hassling you? It doesn't solve anything, defaulters will still default - LOL :LOL

tsk1979 · 28th October 2008, 17:57

Its illegal, complain to Ombudsman.
Bank has to give in writing that any fines etc., you have to pay for not having RC book will be borne by them

Jaggu · 28th October 2008, 18:26

Bajaj kept my CT100 RC, i just got the copies with their official seal, this took care of all my needs.

Bright side, i got the original book in spanking new state when i closed the loan after 2 years or so

Delay in getting it sent by post is another story all together lol.

Born 2 Be Wild · 28th October 2008, 18:26

It Is absolutely Illegal on their Part to Keep the Original RC. I have a loan on my Bike from Citi Financial and I have my Original RC.

My Uncle was recently harrased by The same bank For another Issue where they Wanted Rs 500 to issue another NOC for the RC to be ammended Once the loan finished. He went to the Consumer court And Was compensated Rs 10000 for His aggravation

jerish666 · 28th October 2008, 18:42

Shankar i dont think they can keep the RC book in the bank.They can keep the duplicate key but not the RC book.When i took loan for my car they didnt even keep m duplicate key.So you better speak to the branch manager.Is it the DSA people who keep your RC book?

I just spoke to my executive about your problem what he told me that they will only keep the photo copies.

srijit · 28th October 2008, 19:34

Sankar, try and get it in writing that the bank is keeping the RC book. Once you get that, then you can write a letter to the Banking Ombudsman. The office is in the Reserve Bank building, Bakery Junction.

vikram_d · 28th October 2008, 19:40

Dont know about bikes but for cars they just put a Hypothecated to seal and give the original to the owner. Once the loan is cleared they give a certificate that the hypothecation is cancelled. This is what happened with one of our cars.

28th October 2008, 14:59	#1
Sankar Senior - BHPian Join Date: May 2005 Location: Location Posts: 5,766 Thanked: 9,054 Times	HDFC Bank has my original RC Book. How to get it from them? I have took a two wheeler loan from HDFC Bank to purchase my new Karizma. Loan got approved without any hassle and i got my bike a month back. The RC book was to be collected by the dealer and handed over to me. When i went to collect my RC book this afternoon i was told that the bank is keeping my original RC book and i was given a photocpy of the same. Now this is not right as i've been told that i shall be getting the original RC book and i was supposed to give a copy to the bank. I even got an SMS from HDFC bank on 17th Oct telling me that copy of RC book and other related documents have not been submitted to the bank. From that mesage it's clear that bank needs only the copies and not the original document. Now the question is how can i get the RC book from them? They're telling me it will be given after i close the loan. Now that IS PLAIN STUPID! What does the bank have to say if i'm travelling out of state on my bike and the cops there demand to see the original documents?! The person who answered me when i called the bank tells me that if i need the original RC book i have to give my original DL to the bank and then they will give me my RC book, once my work with the RC is over i have to return it to the bank and then they'll give me my DL!!! How stupid can they get??! Now i need to know if the bank is legally allowed to keep the RC book of my motorcycle with them. I also need to know how i can get RC book from them. Without the original RC i cannot travel on my motorcycle. Can anyone give me some pointers?
	() Thanks

28th October 2008, 15:04	#2
PAVAN KADAM BANNED Join Date: Jan 2007 Location: NAMMA BENGALURU Posts: 5,602 Thanked: 2,549 Times	Walk into the branch and talk to the branch manager. Some plain stupid reasons being given. The bank does not have any right in retaining the original RC book copy of any client, nor do they have any rights to demand the original DL from the client. Take it up with the branch manager of the respective branch and all will be well.
	() Thanks

28th October 2008, 15:06	#3
Shakensoul BHPian Join Date: Apr 2007 Location: AS01 Posts: 498 Thanked: 241 Times View My Garage	The bank cannot keep the original RC with them nor can they ask for your DL. On the RC it will be mentioned hypothecated to HDFC bank. Its no use talking to the phone representatives, maybe they are not aware or are trying to act smart. Visit the Loan branch personally and talk to the manager, I am sure that it would be sorted out.
	() Thanks

28th October 2008, 15:21	#5
jraj BHPian Join Date: Oct 2005 Location: Michigan,USA Posts: 487 Thanked: 173 Times View My Garage	I guess this is how things work for 2 wheeler loan. I remember getting my bike RC book from Bajaj finance after the loan was closed.Until then I only had a copy.Once the loan was closed,I received the original RC and the NOC from Bajaj finance.I then cancelled the hypothecation.
	() Thanks

28th October 2008, 15:25	#6
Shakensoul BHPian Join Date: Apr 2007 Location: AS01 Posts: 498 Thanked: 241 Times View My Garage	Oh...I was talking from a car loan POV.
	() Thanks

28th October 2008, 15:54	#7
Samurai Team-BHP Support Join Date: Jan 2005 Location: Bangalore/Udupi Posts: 25,828 Thanked: 45,536 Times View My Garage	Is there a different rule for 2-wheelers? I have loan on GV from HDFC bank and I have all the original papers and keys. Bank gets nothing other than EMI every month.
	() Thanks

28th October 2008, 17:14	#8
Sankar Senior - BHPian Join Date: May 2005 Location: Location Posts: 5,766 Thanked: 9,054 Times	We had a talk over the phone with The Sales Manager of HDFC two wheeler loan section regarding this. He says they are instructed to keep the RC with them till i close the loan. When asked how i am supposed to travel if such is the case he didn't have any proper reply. His intention is not to release the RC book. We asked him to provide us with a letter in the bank's letter head stating that the RC book is with them and the reason they have for not releasing it, for which he has agreed to give within two days. During the conversation, Sales manager himself said that the bank is retaining the RC books of the two wheelers in Trivandrum & Quilon districts. I the bank is not doing the right thing by stereotyping all the two wheeler loan customers in the districts of Trivandrum & Quilon. If there is a rule it should be applicable to everyone. Please note that other banks here at Trivandrum doesn't retain the RC book of two wheelers bought on loan. Eg: ICICI & SBI. They let the customers keep it. I visited the bank and spoke with a lady representative because the sales manager was not there. She told me that the RC books were given to customers till a few months back and they stopped it since there were cases of defaulting. She even told me that i was not supposed to take the two wheeler out of the state and that such a clause was in the document!! Man she must be kidding! I told her that i didn't see any such clause and that i'm going to ride where ever i like. Can i complain to Banking Ombudsman regarding not releasing my RC book? Really the bike is totally useless to me if i'm not able to use it to travel outside Trivandrum. If needed be how can i legally procede with this, i mean what should i do next?
	() Thanks

28th October 2008, 17:54	#9
phamilyman Senior - BHPian Join Date: Jul 2007 Location: Gurgaon Posts: 5,968 Thanked: 4,642 Times	Complain to the ombudsman. besides the obvious fact that its stupid - they dont do it for cars!! You can also say you wished to travel to Nepal and Bhutan, and this infringes on the very purpose of having bought the bike. and let them know that in the event of default they will anyways come and seize the vehicle as they have the powers to do - why are they bothering with keeping the RC and hassling you? It doesn't solve anything, defaulters will still default - LOL :LOL
	() Thanks

28th October 2008, 17:57	#10
tsk1979 Team-BHP Support Join Date: Feb 2005 Location: San Jose, CA Posts: 23,717 Thanked: 22,825 Times View My Garage	Its illegal, complain to Ombudsman. Bank has to give in writing that any fines etc., you have to pay for not having RC book will be borne by them
	() Thanks

28th October 2008, 18:26	#11
Jaggu Team-BHP Support Join Date: May 2004 Location: Bangalore Posts: 20,215 Thanked: 15,906 Times	Bajaj kept my CT100 RC, i just got the copies with their official seal, this took care of all my needs. Bright side, i got the original book in spanking new state when i closed the loan after 2 years or so Delay in getting it sent by post is another story all together lol.
	() Thanks

28th October 2008, 18:26	#12
Born 2 Be Wild BHPian Join Date: Apr 2008 Location: Roaming Posts: 813 Thanked: 1,367 Times	It Is absolutely Illegal on their Part to Keep the Original RC. I have a loan on my Bike from Citi Financial and I have my Original RC. My Uncle was recently harrased by The same bank For another Issue where they Wanted Rs 500 to issue another NOC for the RC to be ammended Once the loan finished. He went to the Consumer court And Was compensated Rs 10000 for His aggravation
	() Thanks

28th October 2008, 18:42	#13
jerish666 BHPian Join Date: Oct 2006 Location: Trivandrum,Kochi,Trissur Posts: 757 Thanked: 2 Times	Shankar i dont think they can keep the RC book in the bank.They can keep the duplicate key but not the RC book.When i took loan for my car they didnt even keep m duplicate key.So you better speak to the branch manager.Is it the DSA people who keep your RC book? I just spoke to my executive about your problem what he told me that they will only keep the photo copies. Last edited by jerish666 : 28th October 2008 at 18:46.
	() Thanks

28th October 2008, 19:34	#14
srijit BHPian Join Date: Jan 2008 Location: Trivandrum Posts: 598 Thanked: 8 Times	Sankar, try and get it in writing that the bank is keeping the RC book. Once you get that, then you can write a letter to the Banking Ombudsman. The office is in the Reserve Bank building, Bakery Junction.
	() Thanks

28th October 2008, 19:40	#15
vikram_d Senior - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 2,427 Thanked: 1,185 Times	Dont know about bikes but for cars they just put a Hypothecated to seal and give the original to the owner. Once the loan is cleared they give a certificate that the hypothecation is cancelled. This is what happened with one of our cars.
	() Thanks