Amount Deducted from my Account but not transferred to the Beneficiary?

Question

Please Help, as i made an online transfer to Tata Power for amount Rs 5, 500 & Rs1, 230 on 6th October but till date it has not been transferred the beneficiary. I also made a written complaint to the Bank (Prashant Vihar Branch) but nothing has been done so far. please help us in getting it resolved. Hope to get a resolution at soon. Thanks S.C Anand

Answer 1

Dear Anand

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Quite surprised that nothing has transpired for over two months regarding your online transfers, which are said to have not been received by the beneficiary.  You could have obtained a statement of your account from the bank and submitted to TATA power for passing on the credit.  If the transfers were not received by TATA power, a written complaint should have been lodged with your home branch for investigation and response.  Two months is quite a long period.  If your home branch is not responsive or their response is not to your satisfaction, you should take it up with their senior management.  Please visit the bank's website and mail your detailed complaint to their Nodal / Grievance redressal officer, who would certainly be responding to you.  In a worst case scenario, you may also go ahead and complain to Banking Ombudsman. For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the website https://bankingombudsman.rbi.org.in/.

RAJA