Bhargav Borah, Relationship Manager at HDFC Bank, publicly alleges harassment by Tata Capital over unjust EMI bounce charges. Read full details of the complaint and consumer rights involved.
🔎 Complaint Summary
| Complainant Name | Bhargav Borah |
|---|---|
| Designation | Relationship Manager at HDFC Bank |
| Company Complained Against | Tata Capital |
| Nature of Complaint | EMI not auto-debited despite sufficient balance, ₹600 penalty imposed |
| Loan Number | TCFTW0536000012137670 |
| EMI Due Date | 5th of every month |
| Issue Raised | EMI was not deducted automatically even though funds were available. Tata Capital then sent a penalty notice, demanding ₹600 as bounce charges. The customer feels this is deliberate and exploitative. |
| Platform Where Complaint Was Raised | |
| Status | Awaiting Resolution |
📎 Original LinkedIn Post
You can view the original complaint post by Bhargav Borah here:
🔗 View on LinkedIn
📝 Full Complaint Analysis
Bhargav Borah, a verified Relationship Manager at HDFC Bank, has raised a serious concern regarding unethical loan recovery practices by Tata Capital. Despite maintaining sufficient balance in his account, Tata Capital failed to auto-debit his two-wheeler loan EMI on the scheduled date, i.e., the 5th of the month.
Subsequently, he received a penalty notice of ₹600, categorised as EMI bounce charges. According to Bhargav, this isn’t a technical error but a manipulative strategy to unjustly charge customers under the pretext of failed EMIs.
Key Issues Highlighted:
- Sufficient balance available, but EMI not deducted
- ₹600 fine imposed without valid reason
- No prior communication or explanation offered
- Customer alleges systemic harassment
Bhargav strongly criticizes Tata Capital, stating that choosing them for a loan was the “worst decision” he ever made. This raises significant concerns about how non-banking financial companies (NBFCs) are handling loan repayments and consumer rights.
⚖️ Consumer Rights & Legal Provisions Involved
If your EMI was not deducted despite sufficient funds, you may be protected under the following:
- Reserve Bank of India (RBI) Fair Practices Code
- Consumer Protection Act, 2019
- RBI Circulars on Loan Recovery and Customer Consent
- Right to Transparent Loan Servicing
You are entitled to request a complete audit trail and raise the issue with the NBFC Ombudsman, Banking Lokpal, or via an RBI complaint portal.
❓ Frequently Asked Questions (Google Top Searched Queries)
These are the most commonly searched user queries related to Tata Capital EMI, loan harassment, and bounce charges:
- Why did Tata Capital not deduct my EMI on time?
Technical issues, system errors, or backend delays could be responsible. You should contact Tata Capital support and raise a formal complaint. - Can an NBFC like Tata Capital charge EMI bounce penalty even if balance was sufficient?
No. If your account had sufficient funds, and the delay was on their end, the penalty can be disputed legally. - What should I do if Tata Capital charges EMI bounce fee wrongly?
Lodge a complaint with Tata Capital first. If unresolved, escalate to the RBI Ombudsman. - How to file a complaint against Tata Capital?
You can file via the RBI CMS portal, consumerhelpline.gov.in, or contact Choice4Voice.com to amplify your case. - Are EMI bounce charges legal in India?
Yes, but only when the delay is due to the borrower’s fault. If it’s a bank or NBFC error, they can be challenged. - What is the penalty for EMI bounce at Tata Capital?
Typically ₹300–₹600 per bounce. But this varies depending on the loan type and agreement. - Can Tata Capital auto-debit fail even with balance in the account?
Yes, due to technical glitches, incorrect NACH mandate, or internal banking issues. - How to check EMI deduction status in Tata Capital?
Use the Tata Capital customer portal or mobile app to track EMI history. - Can I sue Tata Capital for wrongful charges?
Yes. You can file a legal notice or go to consumer court if charges were wrongly levied. - Is Tata Capital trustworthy for two-wheeler loans?
While widely used, some customers report issues like wrongful penalties and poor support. - What happens if EMI is missed due to bank fault?
The NBFC must not charge penalties. Keep evidence and raise a formal complaint. - Does Tata Capital send EMI reminders?
Usually via SMS or email. If not received, you can request communication logs. - How long does it take for Tata Capital to reverse a wrong charge?
Usually 7–10 working days after the complaint is accepted. - Is it mandatory to set auto-debit for Tata Capital loans?
It’s optional, but recommended. However, failure due to their system isn’t your fault. - What documents are required to dispute an EMI bounce charge?
- Bank statement showing sufficient balance
- Loan agreement copy
- Complaint reference number
- How can I contact Tata Capital grievance officer?
Visit their official site > ‘Contact Us’ > Grievance Redressal. Use the escalation matrix provided. - How to file RBI complaint against Tata Capital?
Use RBI’s Complaint Management System: https://cms.rbi.org.in - Does EMI bounce affect my CIBIL score?
Yes, even one missed EMI (if reported) can impact your credit rating. - Is there any email ID to complain to Tata Capital?
Yes. You can email them at customercare@tatacapital.com - Can NBFCs take legal action for bounced EMIs?
Only after multiple defaults. One mistaken bounce due to technical issue should not lead to legal threats.
🛡️ How Choice4Voice.com Helps
At Choice4Voice.com, we highlight unresolved consumer complaints on high-visibility platforms and urge companies to take immediate corrective action. If you’re facing harassment, wrongful deductions, or denial of service from any financial institution.
Our mission is to hold companies accountable and protect customer rights publicly and professionally.
