Amount is blocked from benificiary account and not reverting the same?

Question

I have transferred Rs 10000 to wrong beneficiary on 22nd Jan 2016. On the same day I have raised request for recall of this transaction which was unsuccessful and the amount is credited to beneficiary account which is with your bank  Somehow I contacted beneficiary and requested him to transfer that amount to me. When she contacted her branch manager, she has been informed that amount has been blocked by the bank because of wrong NEFT transaction. The beneficiary is also agreed for debiting her account as it is wrong transfer. My bank sent series of emails to your bank but they are not replying.
 

Answer 1

Dear Praveen Kumar,

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.

I fail to understand the beneficiary bank's concern once the beneficiary of the credit has agreed for re-transmission of the funds to the originating bank/account. You may request the beneficiary to formally give a letter to his/her bank stating the particular credit in the account was due to mistake on the part of the remitter and hence he'she had no objection to the funds being refunded to the remitter's account. You may get an email confirmation of submission of such a letter from the beneficiary. 

If the beneficiary bank still does not act you can send a complaint to Nodal Officer of the beneficiary bank narrating the sequence of events and enclosing a copy of the letter submitted to the branch by the beneficiary. A copy of the complaint may be endorsed to Nodal Officer of your bank also. I am sure this will result in quick resolution of your grievance.

In case both banks fail to act the next course of action for you will be to refer the matter to Banking Ombudsman. 

Contact details of Nodal Officers can be found on the respective banks websites. 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/

 

Regards

 

J R Mohandas