Lakshmi V Iyer exposes Axis Bank for converting a credit card transaction into EMI without consent, bypassing OTP verification, and providing unprofessional customer support. Choice4Voice.com highlights unresolved banking complaints and assists in filing legal cases.
Complaint Summary Table : Axis Bank Complaint by Lakshmi V Iyer – Unauthorized EMI Conversion & Poor Customer Service
| Complainant Name | Lakshmi V Iyer |
|---|---|
| Not disclosed | |
| Contact / WhatsApp | Not disclosed |
| Company / Brand | Axis Bank |
| Complaint Type | Unauthorized EMI Conversion / Poor Customer Service |
| Product / Service | Credit Card |
| Issue Description | A credit card transaction was converted into EMI without OTP authorization or consent. Customer faced poor communication and delays in complaint resolution. |
| Date of Incident | 24th–25th September 2025 |
| LinkedIn Post URL | Original Post |
| Supporting Proof | Service Request Number: SR250924775357 |
About the Brand: Axis Bank
Axis Bank is one of India’s leading private sector banks, offering comprehensive financial services including retail banking, credit cards, loans, and investment solutions. The bank is known for digital innovation, but multiple customer complaints have highlighted instances of unauthorized transaction processing, lack of proper OTP verification, and poor internal communication in grievance handling.
Key Facts:
- Founded: 1993
- Headquarters: Mumbai, Maharashtra, India
- Services: Retail Banking, Credit Cards, Loans, Digital Banking, Investment Services
About the Author: Lakshmi V Iyer
Lakshmi V Iyer is a Growth professional at Deloitte, actively highlighting consumer and banking issues on LinkedIn. In her post, she described an incident where Axis Bank converted a credit card transaction into EMI without consent, bypassed OTP authorization, and failed to resolve the issue promptly despite multiple follow-ups.
Detailed Complaint Overview
Lakshmi V Iyer experienced the following issues with Axis Bank:
- Unauthorized EMI Conversion: A credit card transaction was converted into EMI without consent and without OTP authorization.
- Delayed and Poor Resolution: Customer service initially refused to cancel the EMI without fees. Only after threatening legal action was the fee reversed.
- Internal Communication Failures: Different departments were unaware of the previous complaint, forcing the complainant to repeat the issue multiple times.
- Data Security Concerns: The incident raised serious questions about transaction authorization, data security, and OTP verification processes.
- Systemic Issue: Multiple similar complaints online indicate potential recurring issues with Axis Bank’s credit card operations.
Possible Legal Charges
Based on this incident, the following legal provisions may apply:
- Section 66C of IT Act: Identity theft or fraudulent use of electronic transaction without consent.
- Section 43 & 43A of IT Act: Unauthorized access to data and failure to protect sensitive financial information.
- Consumer Protection Act, 2019: Unfair trade practice, deficiency in service, and unauthorized financial transaction.
- RBI Guidelines Violation: Non-compliance with OTP verification, transaction authorization, and grievance redressal rules.
- Section 420 IPC: Cheating and dishonestly inducing delivery of property (if considered financial fraud).
Departments Where Complaint Can Be Filed
| Department / Authority | How Choice4Voice.com Can Help |
|---|---|
| Reserve Bank of India (RBI) | Guidance to file complaint through RBI Banking Ombudsman portal regarding unauthorized EMI and OTP violations. |
| Consumer Forum / District Consumer Court | Assist in filing a complaint for deficiency in banking service and unfair trade practices. |
| Cyber Crime Portal (Ministry of Home Affairs) | Help lodge complaint for unauthorized electronic transactions and potential fraud. |
| Bank’s Grievance Redressal Cell | Provide templates and escalation guidance to formally raise complaint within Axis Bank. |
| Lokayukta / Banking Ombudsman | Support in escalation at regional authority level for speedy resolution. |
How Choice4Voice.com Can Help
- Complaint Publication: We first feature the issue on Choice4Voice.com, highlighting the unresolved issue with proof, including SR numbers and call transcripts if available.
- Direct Brand Engagement: We contact Axis Bank to request prompt resolution.
- Legal Assistance: If the bank fails to resolve the complaint, our legal team assists in filing cases with RBI Ombudsman, Consumer Forums, Cyber Crime Portal, and other relevant authorities.
- Step-by-Step Guidance: Templates and expert advice for FIR filing, complaint drafting, and escalation.
- Follow-Up: Continuous monitoring of complaint resolution with updates to the complainant.
Frequently Asked Questions (FAQ)
- Can Axis Bank convert transactions to EMI without consent?
- No, conversion without customer consent and OTP violates banking regulations. Choice4Voice.com helps escalate such complaints.
- What is the RBI Banking Ombudsman, and can it help me?
- It is an authority for bank-related grievances. Choice4Voice.com guides in filing complaints and monitoring resolution.
- Is unauthorized EMI conversion considered fraud?
- Yes, under IT Act Section 66C and Consumer Protection Act 2019.
- How to cancel unauthorized EMI on a credit card?
- Contact bank grievance cell immediately. Choice4Voice.com provides templates for effective complaint submission.
- Are banks required to get OTP authorization for EMI conversion?
- Yes, RBI mandates OTP verification for all such transactions.
- Can I claim compensation for unauthorized EMI conversion?
- Yes, under the Consumer Protection Act for deficiency in service and financial loss.
- What if the bank ignores my complaint?
- Choice4Voice.com can escalate to RBI Ombudsman, consumer courts, or Cyber Crime authorities.
- Is a service request (SR) number enough for complaint tracking?
- SR numbers alone are insufficient; proof of follow-ups and communication is essential.
- Can I file a complaint online for unauthorized EMI?
- Yes, via RBI Ombudsman, bank portal, or Choice4Voice.com assistance.
- How long does it take to resolve an EMI complaint?
- Resolution may take from 30–60 days via RBI Ombudsman or longer via consumer courts.
- What documents are required to file a complaint?
- Bank statements, SR numbers, email communication, call recordings, and transaction details.
- Can Choice4Voice.com file complaints on my behalf?
- Yes, we provide full legal assistance including drafting, filing, and follow-up.
- Which sections of IT Act apply to banking fraud?
- Sections 43, 43A, 66C, and 66D cover unauthorized access, identity theft, and fraud.
- Can fees charged in unauthorized EMI be reversed?
- Yes, upon escalation to bank grievance cell or RBI Ombudsman.
- Are multiple complaints online evidence of a systemic issue?
- Yes, repeated complaints can strengthen your legal case.
- How to escalate if different departments refuse to acknowledge a complaint?
- File with RBI Ombudsman or consumer forum. Choice4Voice.com provides escalation templates.
- Can I claim damages for mental distress caused by bank negligence?
- Yes, consumer courts consider mental distress and inconvenience caused.
- Is bypassing OTP a serious regulatory violation?
- Yes, OTP is mandatory for transaction authorization under RBI regulations.
- Does Choice4Voice.com maintain anonymity?
- Yes, complaints can be filed without disclosing personal details publicly.
- How is Choice4Voice.com different from other complaint portals?
- We feature complaints publicly, engage with brands, and provide legal assistance if unresolved.
