Is bank ne mera 40,000 INR e ligal charg vasool kar ke kaat liya hai. 6900 INR, 9800 INR, and 23,325 INR total 40,025 INR ka fraud kiya hai aur vo bhi galat tarike se RBI ki guidelines ke against jaa kar.
For sending money abroad under same day processing (i.e. under cash mode) DIRECTLY from my account to my beneficiary’s account under LRS, I had visited the Cuttack branch of IndusInd Bank on March 17, 2020. I had submitted Application form, crossed Cheque dated March 17, 2020 towards payment for effecting foreign exchange remittance and all required KYC documents as demanded at the branch on March 17, 2020. The branch completed my KYC verification, done OSV on the document copies and received the KYC documents along with Application form and Cheque. The Deal/Order was booked by the branch staffs and I was committed same day processing of my outward remittance at booked Rate.
However, the branch did not complete my remittance transaction request on the same day that is on March 17, 2020 although it had committed me same day processing at the branch at booked Rate.
The next day that is on March 18, 2020 at 3.30 PM, the branch booked a new Deal/Order without my confirmation (authorisation) and without my knowledge, prepared a new bill (invoice) document without my knowledge and debited money from my account without my consent.
Bank says it used my cheque as my payment instruction to debit my account. But, the cheque was not submitted at the branch to process the newly created unconfirmed Deal/Order on March 18, 2020 when the exchange rate in market was very much downside. The cheque dated March 17, 2020 was submitted by me at the branch on March 17, 2020 to process the remittance transaction on March 17, 2020 at booked rate which the branch did not complete.
To justify the actions and the events of its branch, the bank’s nodal officer responded to me that,
1) On March 17, 2020, the branch staffs Initiated my transaction but the same was rejected by bank’s back end team due to non availability of Relationship Proof KYC document which was my Passport document,
2) After rejection of my transaction, the transaction ID did not hold good but the Rate was still valid for 2 day,
3) The bank sent a mail seeking my confirmation for processing the transaction on March 18, 2020 for the Deal confirmed on March 17, 2020 and based on my confirmation to process the transaction on March 18, 2020 bank processed the transaction on March 18, 2020
4) Bank received the pending KYC document that is my Passport document towards Relationship Proof KYC from me at 3 PM on March 18, 2020 and after receiving the pending KYC from me, it processed my Outward Remittance transaction on March 18, 2020.
Hence, the bank denies any deficiency in service, negligence or fraud on the part of the bank and says the transaction that it has processed on March 18, 2020 had my mail confirmation and was done with my due consent.
But, the facts are,
1) Neither the bank had sought for my confirmation over mail to process transaction on March 18, 2020 for the deal confirmed on March 17, 2020 nor I had provided the bank my confirmation to process transaction on March 18, 2020.
2) I had not agreed anywhere to 2 days validity period of Rate and Deal/Order. When my requirement was Same Day Processing of remittance transaction why would I? Also, nowhere on Transaction Documents it s mentioned that the Rate was valid for 2 days from Deal booking.
3) Branch had duly completed my KYC on March 17, 2020 itself. Thereafter, if bank's back end team rejected my transaction request due to deficiency in KYC document and I did not comply the deficiency by providing my pending KYC on the same day, branch should have rejected my transaction request in writing as per FEMA guidelines.
4) If due to pending KYC document, my transaction request didn't get processed on March 17, 2020, then post KYC compliance, the same transaction request (Deal/Order) should have processed. What was the need for the branch to book a new Deal/Order on March 18, 2020 at around 3.30 PM which is available on TT Advice and SWIFT message.
5) If pending KYC document was my passport document which according to the bank’s nodal officer's response, the branch received from me on March 18, 2020 at 3 PM, then the same should have been part of my Transaction Documents. When I demanded the bank to provide me the copy of my pending document that it had received from me on March 18, 2020 at 3 PM, instead of sending passport document copy, bank has replied that my SBI Bank Account Statement was my pending document which branch received from me on March 18, 2020 at 3 PM. This reply s a blunt lie. The availability of OSV on the SBI Bank Account Statement KYC document confirms that I had submitted the SBI Bank Account Statement at the branch on March 17, 2020.
6) The remitter’s name available on TT Advice, Bill copy and SWIFT message is not matching my name. This is a fundamental KYC non compliance on the part of the bank. As per the FAQs information available on bank’s website, the Remitter’s name should exactly match with his name on PAN card. Otherwise, the transaction ll be cancelled.
7) In the SWIFT payment message and in TT Advice my
account number is not available. On the TT Advice, the remittance originating branch information is also not available. On both the transaction documents, the Debit account is bank's account number maintained at its correspondent bank abroad. As per AML guidelines of the RBI, and as per FATF guidelines, my account number must have been available in the SWIFT payment message since I was an account holding customer of the bank and funds originated from my account. Also my clear instruction to the branch on March 17, 2020 to process my outward remittance DIRECTLY from my account. The transaction documents imply that bank has not processed the outward remittance DIRECTLY from my SB Account.
8) Further, the outward remittance processed by the branch on March 18, 2020 by debiting balance from my account, does not have any tax invoice although GST was collected from me.
The unconfirmed remittance transaction processed by the branch on March 18, 2020 by debiting huge balance from my account without my consent is an unauthorised electronic banking transactions (UEBT). The actions and the events of the bank in regard to this unauthorised electronic banking transaction caused me big exchange loss. Also, the bank failed to process my remittance on Same day that is on March 17, 2020.
In regard to unauthorised electronic banking transaction, there is RBI’s notification available on public domain and the bank has a board approved customer relations policy. The policy says that the customer’s entitlement to Zero Liability shall arise where the unauthorised electronic banking transaction occurs in the event of Contributory fraud / negligence / deficiency in service on the part of the bank. As per the RBI instruction, the burden of proving customer liabilty in case of unauthorised electronic banking transaction lies with the bank. In view of this, the transaction / deal / order processed by the bank staffs on March 18, 2020 by debiting my account is an UEBT. I want my liability should be established / proved and I should be compensated by the bank towards my loss in accordance with the policy of the bank.