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Submit your complaint →Kapil Dev accuses Axis Bank of poor service after his loan was approved but not disbursed even after document verification and sanction letter issuance. Read detailed complaint, legal remedies, complaint templates, and how Choice4Voice.com can help.
Complaint Summary : Axis Bank Customer Alleges Loan Disbursement Delay Despite Approval and Verification Completed
| Details | Information |
|---|---|
| Complainant Name | Kapil Dev |
| Profession | Blogger, Traveler, Writer, Photographer |
| Company/Bank Name | Axis Bank |
| Complaint Type | Loan Approval Without Disbursement / Service Negligence |
| Product/Service | Personal Loan |
| Issue Description | Loan approved, documents verified, and sanction letter issued, but funds not disbursed even after 15+ days. Staff cited lack of existing relationship as reason. |
| Duration of Delay | Over 15 days |
| Complainant’s Action | Visited bank and loan center multiple times; contacted staff repeatedly. |
| Bank’s Response | Advised to open a savings account before loan disbursement; no clear resolution given. |
| Source | Public LinkedIn Post |
Full Case Summary
Kapil Dev, a verified LinkedIn user and a blogger, traveler, writer, and photographer, has raised a serious complaint against Axis Bank over what he describes as “poor service and procedural failure” in handling his loan disbursement process.
According to his post, Kapil applied for a personal loan over 15 days ago. His loan was approved, documents verified, and even the loan sanction and agreement letter were issued. However, despite completing all formalities, the loan amount has still not been disbursed to his account.
Kapil mentioned that after multiple visits to Axis Bank branches and the loan center, bank staff informed him that since he didn’t have an existing relationship with Axis Bank, his loan was treated as a formality and would not be processed further through the digital route. He was asked to open a savings account and resubmit documents physically, delaying the process by several more days.
Kapil expressed disappointment with Axis Bank’s unclear internal processes and lack of accountability, stating that the information displayed on Axis Bank’s website appears misleading when compared to real-world service.
About Axis Bank
Axis Bank, one of India’s largest private-sector banks, provides a wide range of financial services including personal, business, and home loans. Despite having a strong digital presence and promising quick disbursal timelines, several customers have reported unjustified delays in loan releases and poor communication from relationship managers.
Axis Bank’s official website claims “instant approval and disbursement” for eligible customers, but as seen in Kapil’s case, such commitments often fail due to internal process gaps and lack of transparency between loan approval and disbursal.
How Choice4Voice.com Can Help
At Choice4Voice.com, our mission is to empower consumers like Kapil Dev who face delays, false promises, or negligence by banks and financial institutions.
We assist complainants in:
- Publishing verified consumer stories to increase visibility and corporate accountability.
- Guiding them on legal escalation routes and official complaint authorities.
- Connecting cases with the Reserve Bank of India (RBI) grievance channels and Banking Ombudsman offices.
- Helping customers recover stuck loan amounts or demand compensation for delay and harassment.
By publishing such genuine cases on Choice4Voice.com and LinkedIn, consumers can attract attention from both authorities and the concerned bank’s compliance teams for faster redressal.
Legal Remedies for Loan Delay Cases in India
Under RBI’s Fair Practices Code and Consumer Protection Act, 2019, customers have multiple legal options if a bank delays disbursing a sanctioned loan without valid reason.
1. File a Complaint with Axis Bank’s Grievance Redressal Officer
Banks are legally required to respond within 30 days of receiving a written complaint.
Visit: https://www.axisbank.com/grievance-redressal
2. Approach the RBI Banking Ombudsman
If unsatisfied with Axis Bank’s response or no action is taken, the next step is filing a complaint under the RBI Integrated Ombudsman Scheme, 2021.
Portal: https://cms.rbi.org.in
3. Consumer Forum Complaint
A loan delay after sanction and verification qualifies as “deficiency in service” under Section 2(11) of the Consumer Protection Act, 2019.
You may file a case in the District Consumer Disputes Redressal Commission.
4. Legal Notice Under Banking Regulations
If the bank has misled or discriminated (such as requiring unnecessary conditions post-approval), a legal notice can be issued citing breach of contract and unfair banking practice.
Authorities Where Complaints Can Be Filed
| Authority/Department | Purpose | Official Portal |
|---|---|---|
| Axis Bank Grievance Cell | First-level complaint | https://www.axisbank.com/support |
| RBI Banking Ombudsman | Escalation for unresolved complaints | https://cms.rbi.org.in |
| National Consumer Helpline (1915) | Mediation support | https://consumerhelpline.gov.in |
| Consumer Forum | Legal case for compensation | Via State Consumer Commission |
| Ministry of Consumer Affairs | Final government escalation | https://consumeraffairs.nic.in |
Step-by-Step Guide: How to File a Banking Complaint
- Collect All Loan Documents — Sanction letter, application form, and communication records.
- Write to the Axis Bank Branch Manager describing the delay and request a written response.
- Email Axis Bank’s Nodal Officer if no resolution within 7 working days.
- Escalate to RBI Ombudsman via https://cms.rbi.org.in.
- Submit to Choice4Voice.com — Our platform will publish your verified complaint to ensure higher public visibility.
Applicable Legal Cases
| Case Type | Relevant Law/Section | Possible Outcome |
|---|---|---|
| Deficiency in Service | Consumer Protection Act, 2019 | Refund + Compensation |
| Unfair Trade Practice | Section 2(47), CPA 2019 | Penalty + Apology |
| Negligence by Financial Institution | RBI Ombudsman Scheme, 2021 | Warning/Direction to Bank |
| Breach of Contract | Indian Contract Act, 1872 | Legal remedy for non-performance |
Complaint Templates
Email to Axis Bank Grievance Officer
Subject: Urgent Complaint – Loan Approved But Not Disbursed
Dear Grievance Officer,
My personal loan was approved over 15 days ago. All documents, verification, and agreement formalities were completed, and I even received the sanction letter. However, the loan amount has not been disbursed yet.
Kindly provide an update on the reason for this delay and confirm the expected date of disbursement. Please treat this as an official complaint under the RBI Fair Practices Code.
Regards,
[Your Full Name]
[Application Number]
[Mobile Number]
RBI Ombudsman Complaint Template
Subject: Complaint Against Axis Bank for Non-Disbursement of Approved Loan
To,
The Banking Ombudsman, Reserve Bank of IndiaI wish to lodge a complaint against Axis Bank for approving my loan but not disbursing it even after document verification and agreement completion. Despite repeated follow-ups, the bank provided no clear reason.
I request the RBI to direct Axis Bank to disburse the loan or compensate for the delay and inconvenience caused.
Regards,
[Your Full Name]
[City, State]
[Signature]
Author
Complainant: Kapil Dev
Verified Source: LinkedIn Post
Q&A on Axis Bank Loan Issues
Q1. What should I do if my Axis Bank loan is approved but not disbursed?
A1. File a written complaint to the branch manager and escalate to Axis Bank’s grievance cell if not resolved within 7 days.
Q2. How long does Axis Bank take to disburse a personal loan after approval?
A2. Normally within 3–5 working days, provided all KYC and verification are completed.
Q3. Is Axis Bank allowed to delay disbursement after sanction?
A3. No, unnecessary delays violate RBI’s Fair Practices Code.
Q4. Can the bank force me to open a savings account for loan disbursal?
A4. No, RBI guidelines prohibit forcing customers to purchase additional products for loan release.
Q5. What are my rights if Axis Bank refuses to disburse after approval?
A5. You can file a complaint under the Consumer Protection Act or approach the RBI Ombudsman.
Q6. Can I cancel my Axis Bank loan if disbursement is delayed?
A6. Yes, you can withdraw before disbursement without penalty if the bank fails to fulfill its commitment.
Q7. What documents are required to file a complaint with RBI Ombudsman?
A7. Sanction letter, communication records, and previous complaint acknowledgment from Axis Bank.
Q8. How to contact Axis Bank grievance officer directly?
A8. Visit https://www.axisbank.com/grievance-redressal for the official contact details.
Q9. Is loan delay considered “deficiency in service”?
A9. Yes, as per Section 2(11) of the Consumer Protection Act.
Q10. Can I claim compensation for delayed disbursement?
A10. Yes, through the Consumer Forum, for financial loss and mental harassment.
Q11. What’s the RBI’s helpline for banking complaints?
A11. You can file online at https://cms.rbi.org.in or call 14440.
Q12. Does Axis Bank’s loan approval guarantee disbursal?
A12. No, disbursal happens only after internal clearance, but unjustified delay is actionable.
Q13. What if Axis Bank ignores my complaint?
A13. Escalate directly to RBI Ombudsman or Ministry of Consumer Affairs.
Q14. Can I file both Consumer Forum and RBI complaints together?
A14. You can, but it’s better to file sequentially first RBI, then Consumer Forum if unresolved.
Q15. How long does the RBI Ombudsman take to respond?
A15. Usually within 30 days of registration.
Q16. What proof should I keep before legal action?
A16. Keep all emails, messages, branch visit notes, and official letters.
Q17. Can I demand interest on delayed disbursal?
A17. Yes, if the loan amount was committed by a fixed date in writing.
Q18. Are digital and physical loan applications treated differently?
A18. No, both have equal legal validity under RBI norms.
Q19. What’s the best escalation path for Axis Bank loan issues?
A19. Branch → Nodal Officer → Grievance Officer → RBI Ombudsman → Consumer Forum.
Q20. How can Choice4Voice.com help with my Axis Bank complaint?
A20. By publishing your verified case, guiding you through escalation, and connecting you to legal and media channels for visibility.
