Banking: Sumant Kathpalia

Last Updated: Mon, Jan 14, 2013 05:50 hrs

I had made a payment of Rs 70,000 to settle my credit card dues with a waiver of Rs 10,000 (interest). However, Cibil's records show the waiver as due. I plan to take a home loan and have got a no-due certificate from my bank. But the other banks I am approaching (as they offer better rates) are refusing me the loan. What corrective measures can I take?
As a general practice, banks are expected to reverse the waived component from the account on completion of the settlement process, which will simultaneously get updated in the credit bureau according to the reporting cycle of the bank. In your case, if the settlement is done recently, you could wait for the bank to update their records or raise the issue with Cibil and/or the respective bank for a status update.

About three weeks ago, I had visited an ATM of a bank in which I don't have the account. The card got stuck and money wasn't dispensed. But the transaction went through and the money was debited from my account. The bank refuses to reverse the transaction. What should be my course of action?
You should lodge a complaint with the card issuing bank and claim the amount debited to your account. If you have the printed advice, it should be attached with the complaint. If the bank rejects the claim, you should ask for CCTV footage to substantiate that the transaction was not completed and amount was not dispensed by the ATM. If your grievance is not addressed to your satisfaction within 30 days, you should write to the Banking Ombudsman of your region. The contact details of the Ombudsman would be available on your bank's website and at the branch where you maintain your account.

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