Sahil Mehta exposes Axis Bank’s shocking deductions of ₹1.3 lakh, leading to a ₹33+ lakh negative balance on his agri loan account. Complaint submitted for urgent resolution.
Complaint Summary Table : Axis Bank Complaint – ₹1.3 Lakh Unjust Deductions & ₹33 Lakh Negative Balance | Sahil Mehta Raises Issue
| Field | Details |
|---|---|
| Complainant Name | Sahil Mehta |
| Profession | Associate Technical Lead at Altudo |
| Company Involved | Axis Bank Ltd. |
| Issue Reported | Unjustified deductions on agri loan account |
| Amount Deducted | ₹1,30,000 (without prior intimation) |
| Resulting Balance | ₹33+ lakh negative balance |
| Key Concern | Negligence by Cluster Head & RM for not renewing account |
| Action Requested | Immediate response and reversal of unfair charges |
| Complaint Reference | 250801104049 |
| Original Source | View Original LinkedIn Post |
Complaint Overview
Sahil Mehta, Associate Technical Lead at Altudo, has raised a serious concern against Axis Bank Ltd. regarding unauthorized deductions and gross mismanagement of his agri loan account.
According to Sahil, despite several follow ups via email, Axis Bank failed to provide any formal response regarding unjustified deductions amounting to ₹1,30,000.
Due to the negligence of Axis Bank’s Cluster Head and Relationship Manager (RM), the account renewal was not processed on time, which directly caused:
- Heavy penal charges
- Annual maintenance fees
- Excessive interest collection
This shocking mismanagement resulted in his account showing a negative balance of more than ₹33 lakhs.
Sahil has demanded an immediate resolution and reversal of these unfair charges, emphasizing the urgency of the matter.
About the Complainant – Sahil Mehta
- Name: Sahil Mehta
- Profession: Associate Technical Lead at Altudo
- Platform: Active on LinkedIn where he raised this issue publicly
- Concern: Unjustified deductions and Axis Bank’s lack of accountability
Sahil’s decision to highlight his grievance on LinkedIn shows the growing trend of professionals using social media to bring visibility to unresolved banking issues.
About the Brand – Axis Bank Ltd.
Axis Bank is one of India’s leading private sector banks, providing retail, corporate, and rural banking services. However, in recent years, the bank has faced multiple complaints regarding:
- Poor customer service response times
- Technical inefficiencies in handling accounts
- Unjustified charges on loan and savings accounts
- Weak internal communication between departments
Such unresolved complaints risk damaging Axis Bank’s reputation among customers, particularly in the highly sensitive agri-loan sector, where timely account renewals and transparency are critical.
Choice4Voice.com’s Role in Supporting Consumers
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If you are facing a similar problem with any bank or service provider, you can:
👉 Submit Your Complaint Here: https://choice4voice.com/submit-your-complaint/
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Top 20 Q&A for Banking Complaints
Q1: How can I file a complaint against Axis Bank online?
You can file a complaint through Axis Bank’s official grievance redressal page, escalate to RBI’s Banking Ombudsman, or use consumer advocacy platforms like Choice4Voice.com.
Q2: What are unjustified bank charges?
Unjustified charges refer to penalties, fees, or deductions that are levied without proper notice, authorization, or valid reasoning.
Q3: How do I recover wrongly deducted money from Axis Bank?
You must raise a written complaint with the branch, escalate it to Axis Bank’s nodal officer, and if unresolved, take the matter to the RBI Ombudsman.
Q4: Can a bank deduct charges without informing the customer?
No. As per RBI guidelines, banks are required to inform customers before applying any charges.
Q5: What is the RBI Ombudsman scheme for bank complaints?
The scheme allows customers to lodge complaints against banks for unfair practices, service failures, or unauthorized deductions.
Q6: How long does Axis Bank take to resolve complaints?
Axis Bank claims to resolve complaints within 10–15 working days, but delays are common in complex cases.
Q7: What steps should I take if Axis Bank ignores my complaint?
You can escalate to the Principal Nodal Officer, then approach the RBI Ombudsman, or highlight your case publicly via platforms like Choice4Voice.com.
Q8: Can I take legal action against Axis Bank for unfair deductions?
Yes. Customers can file a case in the consumer court for financial loss or mental harassment caused by unjustified charges.
Q9: What are common Axis Bank customer complaints?
Frequent issues include credit card mismanagement, loan deductions, failed refunds, poor grievance handling, and technical downtime.
Q10: How can I avoid penalties on an Axis Bank loan account?
Always track your account renewal dates, EMI schedules, and verify all charges regularly.
Q11: Why do banks charge penal interest?
Banks levy penal interest as a penalty for late payments, account renewal delays, or violations of loan terms.
Q12: Can a negative balance occur in loan accounts?
Yes. If penal charges, interest, and maintenance fees are applied repeatedly, it can push an account into a large negative balance.
Q13: What is the role of a Relationship Manager (RM) in banks?
An RM is responsible for account renewals, customer support, and ensuring smooth account management.
Q14: What should I do if my RM fails to perform duties?
You should immediately escalate the issue to the branch manager, zonal head, and then to the nodal officer.
Q15: How do I report Axis Bank’s negligence?
You can email the nodal officer, contact customer care, or escalate to RBI if no timely action is taken.
Q16: What documents are required to escalate a banking complaint?
Keep account statements, deduction proof, email communication, and complaint reference numbers ready.
Q17: Is Choice4Voice.com recognized for banking complaints?
Yes. Choice4Voice.com publishes verified consumer cases to hold companies accountable and push for faster resolutions.
Q18: Can social media help in resolving bank complaints?
Yes. Tagging banks, RBI officials, and advocacy platforms on LinkedIn or Twitter often results in faster resolutions.
Q19: What are RBI’s rules on unauthorized bank deductions?
RBI prohibits banks from deducting charges without prior intimation and mandates reversal of unjustified fees.
Q20: Where can I directly submit my banking complaint?
You can submit your complaint via Choice4Voice.com or approach RBI Ombudsman.
