Mahindra Finance — 5 months delay in home loan ecs

shreyak31

from Lucknow, Uttar Pradesh

Sep 7, 2017

Address: Lucknow, Uttar Pradesh, 226028

Website: www.mahindrafinance.com

Hello,

We are running a home loan with mahindra rural finance, lucknow (Up east) regional office from more than a year.in the month of may we have asked our rm mr. Faizal to change the bank details and start ecs facility with the new bank. We have provided cheque, signed ecs form and also provided an extra cheque in order to have the emi deducted for the current month. Rm also asked us to provide old bank cheque in between the process.
Next month we have been asked to provide another cheque of new bank as their was delay from the corporate office to initiate new ecs facility and same have been provided.
Its post 5 month when again we have asked to provide a whatsapp image of a new cheque signed as old cheque had been couriered but tracking id can not be found.
On raising question that how can a financial firm lost a customer cheque, rm told us that cheque is already initiated ecs process, and that the new cheque is required only for reference purpose.
When we have asked to provide senior management contact detail to understand if this the practice that can be followed - same has not been provided till data and that no on roll employee has any contact detail of the branch head/regional manager.
Its again a new month when we have asked to provide 2 cheques to initiate current month's emi and the other one to initiate ecs.

Kindly suggest or provide the escalation matrix of such issues where common man having info are being fooled by banking employees.

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Dec 23, 2017

Updated by shreyak31 This is December month when again for the loan account number XSMELCK00353816 ecs facility has not started despite of months follow up. We were asked from Branch manager Mr Gauri Shankar that ecs facility will start afresh from September month and were asked to submit a new cheque for the ECS. Ref cheque copy attached (13) which was submitted for ecs purpose but on 13 th of the same month, emi was deducted from that cheque taken for ecs purpose. On query we were told that xerox copy is sent for the ecs purpose and same they were doing for the older cheques as well and original cheque is used for emi deduction.
When in the October month no emi deducted, we logged a complaint to head quarter that we are being fooled by the branch. They informed that ecs is in process and amount will get deducted. This is month of December up till when no emi has been deducted from the account and no one in head quarter and in branch are aware of the process. We were approached by the collection department for the issue as they were not receiveing the payment form 3 months. They said they are fooling you as when emi is getting deducted then that cheque can not be proceeded for ecs.
We have asked for a written documentation that delay in emi is due to the banks fault and that amount is already maintained in the bank still emi is not getting deducted . Post which we will provide then new ecs cheque and all o/s amount payment but have not received any confirmation yet.
Kindly tell who will be responsible if credit score/cibil of consumer is affected due to such fault and blunders of the Nbfc.