Complaint Against Employer Bank to RBI Ombudsman: Seeking Guidance

[Maitri_Maniya]

Hello everyone,

I work at Kotak Mahindra Bank and encounter an issue with an accidental emergency loan disbursed to my account on January 15th. While exploring the platform, the loan was approved and credited to my account without my intention. I immediately contacted customer care, and they assured me the loan would be canceled by January 29th. However, after multiple follow-ups, I was told to transfer the amount to a loan account to process the cancellation, which I did. Now, I am being asked to pay interest despite informing customer care on January 15th.

I escalated this to higher authorities within the bank but have not received a resolution. I mentioned in my email that I may need to reach out to the RBI Ombudsman if I don't get a response soon. I'm seeking advice on whether I should escalate the matter to the RBI Ombudsman tomorrow if I don't receive an update, and whether doing so might negatively affect my job. Should I just pay the interest and move on?

Any advice from others who have faced similar situations would be helpful.

 

[quino]

whether doing so might negatively affect my job

if they do that it'd be fun to watch the banking arm of Kotak get banned by RBI, after getting their cc arm banned.

 

[Maitri_Maniya]

if they do that it'd be fun to watch the banking arm of Kotak get banned by RBI, after getting their cc arm banned.

give me genuine advice should i complain to RBI or not. i don't have any backup of my job

 

[Riva]

It is very unlikely that kotak will not hold resentment if you go against the bank especially since you are an kotak employee. Even if they may not take action, they could always harass you. Look to switching to another bank while taking them to RBI would be the best route.

 

[sm9811911]

Hello everyone,

I work at Kotak Mahindra Bank and encounter an issue with an accidental emergency loan disbursed to my account on January 15th. While exploring the platform, the loan was approved and credited to my account without my intention. I immediately contacted customer care, and they assured me the loan would be canceled by January 29th. However, after multiple follow-ups, I was told to transfer the amount to a loan account to process the cancellation, which I did. Now, I am being asked to pay interest despite informing customer care on January 15th.

I escalated this to higher authorities within the bank but have not received a resolution. I mentioned in my email that I may need to reach out to the RBI Ombudsman if I don't get a response soon. I'm seeking advice on whether I should escalate the matter to the RBI Ombudsman tomorrow if I don't receive an update, and whether doing so might negatively affect my job. Should I just pay the interest and move on?

Any advice from others who have faced similar situations would be helpful.

Try to resolve it internally first. Use your connections, ask your manager or the Sr mgt to help you with this.
Please accept that its not solely bank's mistake that loan got disbursed. Loans do not get disbursed without customer doing nothing. Accept you also had a role in this and try to rectify it.

 

[NOOBY]

credited to my account without my intention

Clicking on banner doesn't disburse loan. You must have been taken to an approval page where the Accept option might be ticked by default and you must have clicked continue or something like that. Kotak can not read mind, clicking on the banner/continue was the intention.

give me genuine advice should i complain to RBI or not. i don't have any backup of my job

choose the RBI route only when you have left your job.. They will mess up your leaving process and/or experience/character letter/certificate.

Right now, best way is to get it via internal channels. Also, its not possible that you clicked on a banner and the amount got transferred. You must have clicked at least 2/3 times (and they would have proofs in the system).

 

[Mr. BeanMr. Bean is verified member.]

I'm seeking advice on whether I should escalate the matter to the RBI Ombudsman tomorrow

From what I know, you can go to RBI Ombudsman only after 30 days of initiating the complaint. Direct quote from...

Reserve Bank of India - Frequently Asked Questions

RB-IOS, 2021 provides for cost-free redress of customer complaints involving deficiency in services rendered by entities regulated by RBI, if not resolved to the satisfaction of the customers or not replied to within a period of 30 days by the RE.

Should I just pay the interest and move on?

It depends on how much interest and whether you can afford to lose it in the short term. In the long run, you can get it back if the issue isn't resolved within 30 days to your satisfaction.

Stay calm and decide whatever the action after Feb 15, 2025. As other mentioned already, try to resolve the issue internally.

 

[Maitri_Maniya]

From what I know, you can go to RBI Ombudsman only after 30 days of initiating the complaint. Direct quote from...

Reserve Bank of India - Frequently Asked Questions

It depends on how much interest and whether you can afford to lose it in the short term. In the long run, you can get it back if the issue isn't resolved within 30 days to your satisfaction.

Stay calm and decide whatever the action after Feb 15, 2025. As other mentioned already, try to resolve the issue internally.

internally they are denying. in the call they are accepting that that's our fault that we didn't take any action on that. but you have to pay the interest then only the loan can be closed. and they won't refund as well

 

[Maitri_Maniya]

Clicking on banner doesn't disburse loan. You must have been taken to an approval page where the Accept option might be ticked by default and you must have clicked continue or something like that. Kotak can not read mind, clicking on the banner/continue was the intention.



choose the RBI route only when you have left your job.. They will mess up your leaving process and/or experience/character letter/certificate.

Right now, best way is to get it via internal channels. Also, its not possible that you clicked on a banner and the amount got transferred. You must have clicked at least 2/3 times (and they would have proofs in the system).

yes. i clicked 2 3 times. but i didn't get any email/sms that the amount is credited in my account. as far as i realised i reported immediately. but then after they haven't taken any action to close the loan. that's not fault.

 

[Ram1]

give me genuine advice should i complain to RBI or not. i don't have any backup of my job

I would suggest pay that interest and live and do job peacefully.
Ombudsman complaint triggers bank a lot.

 

[Credit_Cards]

yes. i clicked 2 3 times. but i didn't get any email/sms that the amount is credited in my account. as far as i realised i reported immediately. but then after they haven't taken any action to close the loan. that's not fault.

without OTP consent if they are disbursing loan its clear brach of RBI guidelines.