Reserve Bank Of India [RBI] — complaints with regard to ecs mandate being done at random.

Address: 500011

Sir,

I am maintaining a savings bank account with m/s. Idbi bank ltd in secunderabad. I have purchased/taken consumer durable loan for which i have given ecs mandate for debiting my account for monthly emi.

But i regret to inform and bring to your notice that the ecs is returned for insufficient funds even when the funds are transferred online or cash deposited early in the morning of the same date.

On enquiring with the branch, they have reverted saying that ecs can hit the account anytime in the 24 hours of the given day starting in the midnight as well.

As such, i request your good selves to kindly modify this system of ecs debit to the customer account and fix a time from and till the closure of the banking time during the day.

This will help in unnecessary dishonour of ecs and charges levied by both the bank and the finance companies and the harassment caused to the customer.

Looking forward to your action in the above regard.

Thanking you.

Yours sincerely.

Kanupriya saraf
Email id: preksha. [protected]@gmail.com