Utkarsh Agnihotri has reported an Axis Bank employee fraud involving a personal loan processed without consent and extra charges of ₹12,010. Full details published on Choice4Voice.com
Note: If this issue is resolved, the concerned brand or the complainant may contact us at support@choice4voice.com. After proper verification, we will either update this article as “Resolved” or delete it, ensuring fairness to both parties.
Complaint Summary : Axis Bank Employee Fraud Complaint – Utkarsh Agnihotri Reports Unauthorized Loan & Unjust Charges
| Complainant | Utkarsh Agnihotri |
|---|---|
| Profile | Senior Sales Executive, Pathkind Labs |
| Complaint Type | Employee Fraud / Unauthorized Loan |
| Company | Axis Bank |
| Incident Reported | September 2025 |
| Key Issue | Personal loan processed without consent |
| Financial Loss | ₹12,010 (processing fees & stamp duty) |
| Customer Concern | Fraudulent practices by bank employees |
| Expected Resolution | Refund of charges, strict action against staff, process transparency |
Full Complaint Details
Utkarsh Agnihotri, a verified professional and Senior Sales Executive at Pathkind Labs, has raised a serious complaint against Axis Bank.
According to him, an Axis Bank employee fraudulently processed a personal loan without his consent. Using false instructions and misleading communication, the staff manipulated him into an agreement where the ultimate goal was to extract fees for processing and stamp duty.
- Unauthorized personal loan applied without consent.
- Extra charges of ₹12,010 collected.
- No genuine interest from the customer to take the loan.
- Complaint highlights employee-level fraud within Axis Bank.
Utkarsh has urged others to remain cautious and thoroughly scrutinize all banking instructions before approval.
Customer Impact
- Financial Loss: Extra amount of ₹12,010 unfairly charged.
- Trust Deficit: Raises concerns about Axis Bank’s internal controls.
- Potential Risk: Unauthorized loan can damage credit score & financial records.
- Mental Stress: Dealing with fraud from a reputed financial institution.
About Axis Bank
Axis Bank is one of India’s leading private sector banks, offering a wide range of financial services including retail banking, loans, cards, and wealth management. However, repeated customer complaints regarding unauthorized charges, aggressive sales, and loan mis-selling have raised serious questions about compliance and employee accountability.
Legal Options for Victims
If you face similar fraud, here are the legal remedies available in India:
- File a Written Complaint with the Bank – Mandatory first step. Demand a written acknowledgment.
- Escalate to Banking Ombudsman (RBI) – If the bank fails to resolve within 30 days.
- Consumer Court Complaint – File under the Consumer Protection Act for financial loss and harassment.
- Police / Cyber Crime FIR – Employee fraud and mis-selling are criminal offenses.
- Approach RBI & SEBI – In case of systemic frauds or misrepresentation by financial institutions.
How to Process a Complaint Against Axis Bank
- Collect Evidence – Emails, call recordings, loan documents, bank slips.
- Raise Official Complaint – Via Axis Bank’s customer care email or grievance redressal officer.
- Get Complaint Number – Every registered complaint must have a reference ID.
- Wait for 30 Days – As per RBI guidelines.
- Escalate to Ombudsman – If unresolved, file on RBI’s official ombudsman portal.
- File Consumer Case – Claim compensation for financial loss, mental harassment, and unfair trade practice.
How Choice4Voice.com Can Help
At Choice4Voice.com, we:
- Publish genuine consumer complaints to create visibility.
- Highlight unethical banking practices to pressure institutions for resolution.
- Guide complainants on legal options including Ombudsman, Consumer Court, and regulatory escalation.
- Amplify consumer stories on LinkedIn and other platforms for greater impact.
👉 If you are a victim of fraud, mis-selling, or unauthorized banking practices, you can submit your complaint here:
https://choice4voice.com/submit-your-complaint/
We ensure your complaint is featured within 24 hours for maximum consumer awareness.
Expert Analysis
This case highlights:
- Employee Fraud Risk – Even within reputed banks, weak oversight allows misconduct.
- Consumer Exploitation – Charging fees for services not requested is financial harassment.
- Regulatory Gap – Stronger RBI monitoring is needed to prevent loan mis-selling.
- Reputational Damage – Axis Bank must act fast to restore customer trust.
Original LinkedIn Post
View Utkarsh Agnihotri’s LinkedIn Post Here
Frequently Asked Questions (FAQs)
Q1. Who filed the complaint?
Utkarsh Agnihotri, Senior Sales Executive at Pathkind Labs.
Q2. Which bank is involved?
Axis Bank.
Q3. What was the issue?
A personal loan was processed without his consent by Axis Bank employees.
Q4. How much extra money was charged?
₹12,010 (processing fees + stamp duty).
Q5. What fraud technique was used?
Employees gave false instructions and manipulated him into paying charges.
Q6. Why is this serious?
Because unauthorized loans can damage credit history and result in financial burden.
Q7. What rights does a customer have in such cases?
Right to refund, right to complaint escalation, and legal action under Consumer Protection Act.
Q8. How can the issue be resolved?
Immediate refund, disciplinary action against staff, and stronger compliance checks by Axis Bank.
Q9. Is this against RBI guidelines?
Yes, RBI prohibits mis-selling and requires full customer consent for loans.
Q10. Can Axis Bank be held liable?
Yes, as the employer is accountable for actions of its employees.
Q11. Can the Banking Ombudsman help?
Yes, after 30 days if the bank does not resolve the issue.
Q12. Can police action be taken?
Yes, loan fraud falls under cheating and misrepresentation (IPC Sections 415, 420).
Q13. What is the impact on the customer’s credit score?
Unauthorized loans can negatively affect CIBIL/credit rating.
Q14. How should customers verify before signing?
Always read documents carefully, ask for written proof, and never approve verbal instructions.
Q15. Is this a common problem?
Yes, loan mis-selling and unauthorized charges are frequently reported in India.
Q16. What preventive steps should Axis Bank take?
Strict monitoring, disciplinary actions, and better customer verification.
Q17. Can compensation be claimed?
Yes, customers can claim refund + compensation for harassment via consumer court.
Q18. How does Choice4Voice.com help in such cases?
By publishing, amplifying, and guiding complainants through proper redressal channels.
Q19. What should customers do if they face similar fraud?
Collect proof, complain to the bank, escalate to Ombudsman, and go legal if unresolved.
Q20. What’s the broader message from this case?
Even reputed banks can have rogue employees, so vigilance and legal awareness are essential.
Final Note
This complaint by Utkarsh Agnihotri against Axis Bank is a reminder that employee misconduct and mis-selling practices can severely harm customers. Immediate action is required by Axis Bank to restore trust and prevent recurrence.
At Choice4Voice.com, we continue to highlight such cases and stand firmly with consumers demanding fairness and accountability.
