1 Answer
Dear Client,
When the lien is shown as “ERRONEOUS CRED,” it implies that the bank itself has internally identified that there has been an erroneous credit which has been put on hold by the bank. If the bank also states that it has been adjusted against your outstanding dues at the same time, then it becomes impossible for the bank to either adjust or hold the amount. This discrepancy is considered inadequate service on the part of the bank.
The initial step that you should consider is filing a formal written complaint with the Axis Bank grievance redressal forum, citing the actual dates and amounts involved along with the reference numbers of the december credit and january lien entries. You should demand a written rationale of why the amount of Rs. 8,500 has been utilized in two different ways as an adjustment and as a lien. In case you do not get a satisfactory response within thirty days of making the complaint in writing, you may contact the banking ombudsman. The RBI Banking Ombudsman can adjudicate complaints against banks for deficient service including erroneous debit or lien entries, and the process is completely free of cost. File the complaint online at cms.rbi.org.in.
In case the funds are still unaccounted for despite the ombudsman’s decision, you can file a complaint at the District Consumer Disputes Redressal Commission on the grounds of deficiency in services and compensation. It has been held by courts that banks keeping their accounts in disparity that result in hardships faced by their customers qualify as deficiencies in services.
I hope this helps, and if you have any further issues, do not hesitate to contact us.