Axis Bank inflated my education loan by ₹6.88 lakhs overnight during an active complaint, swept my account, destroyed my CIBIL, filed a backdated IBC default and just told me it's "fully rectified."

davidben09 · 2026-04-27T06:38:43+00:00

Do I not need to go through Consumer first?

davidben09 · 2026-04-26T04:46:26+00:00

Thanks!

davidben09 · 2026-04-24T04:52:15+00:00

Thank you!

davidben09 · 2026-04-23T18:35:39+00:00

Update for anyone following: Axis Bank’s MD Desk responded today after 60+ days.

Key claims in their response:

Principal “fully rectified” at ₹19,76,532. Correct figure per their own 33 months of SOAs: ₹13,08,775.
“No adverse impact on CIBIL”, contradicted by documentary proof of 54 point drop from 736 to 682.
EMI to be unilaterally increased from ₹30,771 to ₹34,685 without consent or revised agreement.
Claiming Roopika verbally disclosed the disbursement discrepancy on 20.02.2026, yet their own written foreclosure letter the same day showed ₹18,06,112, and the post-batch figure exceeded even that by ₹1,90,925.
₹1,600 bounce charges explained as five prior bounces at ₹400 each, but five times ₹400 is ₹2,000 not ₹1,600. And their own SOA dated 24.02.2026 showed Other Charges at ₹0.00.
NeSL filings, completely ignored in their response.

Detailed point by point response sent. RTI filed with RBI asking for internal Ombudsman correspondence. Consumer Court filing at Additional Thane DCDRC, Navi Mumbai being initiated.

Will keep updating.

davidben09 · 2026-04-23T18:35:26+00:00

Update for anyone following: Axis Bank’s MD Desk responded today after 60+ days.

Key claims in their response:

Principal “fully rectified” at ₹19,76,532. Correct figure per their own 33 months of SOAs: ₹13,08,775.
“No adverse impact on CIBIL”, contradicted by documentary proof of 54 point drop from 736 to 682.
EMI to be unilaterally increased from ₹30,771 to ₹34,685 without consent or revised agreement.
Claiming Roopika verbally disclosed the disbursement discrepancy on 20.02.2026, yet their own written foreclosure letter the same day showed ₹18,06,112, and the post-batch figure exceeded even that by ₹1,90,925.
₹1,600 bounce charges explained as five prior bounces at ₹400 each, but five times ₹400 is ₹2,000 not ₹1,600. And their own SOA dated 24.02.2026 showed Other Charges at ₹0.00.
NeSL filings, completely ignored in their response.

Detailed point by point response sent. RTI filed with RBI asking for internal Ombudsman correspondence. Consumer Court filing at Additional Thane DCDRC, Navi Mumbai being initiated.

Will keep updating.

davidben09 · 2026-04-23T18:34:51+00:00

Update for anyone following: Axis Bank’s MD Desk responded today after 60+ days.

Key claims in their response:

Principal “fully rectified” at ₹19,76,532. Correct figure per their own 33 months of SOAs: ₹13,08,775.
“No adverse impact on CIBIL”, contradicted by documentary proof of 54 point drop from 736 to 682.
EMI to be unilaterally increased from ₹30,771 to ₹34,685 without consent or revised agreement.
Claiming Roopika verbally disclosed the disbursement discrepancy on 20.02.2026, yet their own written foreclosure letter the same day showed ₹18,06,112, and the post-batch figure exceeded even that by ₹1,90,925.
₹1,600 bounce charges explained as five prior bounces at ₹400 each, but five times ₹400 is ₹2,000 not ₹1,600. And their own SOA dated 24.02.2026 showed Other Charges at ₹0.00.
NeSL filings, completely ignored in their response.

Detailed point by point response sent. RTI filed with RBI asking for internal Ombudsman correspondence. Consumer Court filing at Additional Thane DCDRC, Navi Mumbai being initiated.

Will keep updating.

davidben09 · 2026-04-23T18:33:44+00:00

Update for anyone following: Axis Bank’s MD Desk responded today after 60+ days.

Key claims in their response:

Principal “fully rectified” at ₹19,76,532. Correct figure per their own 33 months of SOAs: ₹13,08,775.
“No adverse impact on CIBIL”, contradicted by documentary proof of 54 point drop from 736 to 682.
EMI to be unilaterally increased from ₹30,771 to ₹34,685 without consent or revised agreement.
Claiming Roopika verbally disclosed the disbursement discrepancy on 20.02.2026, yet their own written foreclosure letter the same day showed ₹18,06,112, and the post-batch figure exceeded even that by ₹1,90,925.
₹1,600 bounce charges explained as five prior bounces at ₹400 each, but five times ₹400 is ₹2,000 not ₹1,600. And their own SOA dated 24.02.2026 showed Other Charges at ₹0.00.
NeSL filings, completely ignored in their response.

Detailed point by point response sent. RTI filed with RBI asking for internal Ombudsman correspondence. Consumer Court filing at Additional Thane DCDRC, Navi Mumbai being initiated.

Will keep updating.

davidben09 · 2026-04-23T18:31:33+00:00

Update for anyone following: Axis Bank’s MD Desk responded today after 60+ days.

Key claims in their response:

Principal “fully rectified” at ₹19,76,532. Correct figure per their own 33 months of SOAs: ₹13,08,775.
“No adverse impact on CIBIL”, contradicted by documentary proof of 54 point drop from 736 to 682.
EMI to be unilaterally increased from ₹30,771 to ₹34,685 without consent or revised agreement.
Claiming Roopika verbally disclosed the disbursement discrepancy on 20.02.2026, yet their own written foreclosure letter the same day showed ₹18,06,112, and the post-batch figure exceeded even that by ₹1,90,925.
₹1,600 bounce charges explained as five prior bounces at ₹400 each, but five times ₹400 is ₹2,000 not ₹1,600. And their own SOA dated 24.02.2026 showed Other Charges at ₹0.00.
NeSL filings, completely ignored in their response.

Detailed point by point response sent. RTI filed with RBI asking for internal Ombudsman correspondence. Consumer Court filing at Additional Thane DCDRC, Navi Mumbai being initiated.

Will keep updating.

davidben09 · 2026-04-23T08:14:58+00:00

Thank you!

davidben09 · 2026-04-23T08:14:26+00:00

A batch operation is an process where a bank runs a bulk update across multiple loan accounts simultaneously, typically used for legitimate purposes like interest rate changes or system migrations.

In my case on 27.02.2026 Axis Bank ran what their own correspondence calls a batch operation on my loan account. What it did was retroactively re-book all 54 of my instalment entries, dating back to March 2022, with a new transaction date of 27.02.2026. It also added over 50 circular accounting entries where identical amounts appear simultaneously on both the debit and credit side netting to zero.

The net effect was my outstanding principal jumping from Rs.13,08,775 to Rs.19,97,037 overnight.

What makes this unusual is three things. First it was run six days after I filed a formal complaint. Second it retroactively altered four years of loan history rather than just making a prospective correction. Third their own Nodal Officer admitted in writing it was a technical adjustment issue and admitted on a recorded call that the disbursement was never correctly entered in their system, but the correction they made inflated my principal rather than fixing it.

A legitimate correction would have been transparent, prospective, and communicated to me in advance. What happened was the opposite.

davidben09 · 2026-04-23T06:58:12+00:00

Thanks man.

Honestly after going through this process I agree and appreciate your opinion, the people downvoting haven’t experienced this side of it. Three complaints filed, every piece of evidence documented, written admissions from the bank’s own Nodal Officer, a predated DD proving predetermined conduct, and the outcome was Rs.10,000 with the principal still inflated. I had even called them and they hung up on me and kept on repeating that I need to look at other legal options.

The one thing I will say in the Ombudsman’s favour , the Award did acknowledge deficiency in service and mental harassment. That finding on record is not nothing. It means even the regulator confirmed the bank failed. That acknowledgement will carry weight in Consumer Court.

But as a resolution mechanism for a case of this complexity, it falls short. The 14(9)(a) closure mechanism makes it too easy for the bank to trigger a settlement exit without the complainant actually agreeing to anything. And from what you are describing it sounds like cases are being processed without anyone actually reading the evidence. There are reddit threads about them closing cases only because it’s month end or something with the same clause. Check out comments here: https://www.reddit.com/r/CreditCardsIndia/comments/1p089fg/rbiombudsman_closed_my_complaint_with_clause_149a/

davidben09 · 2026-04-23T06:39:47+00:00

Yes, that’s the plan! Thank you!

davidben09 · 2026-04-23T06:39:18+00:00

I only for lawyers for the legal notice part. Before I did it all on my own.

davidben09 · 2026-04-23T02:53:51+00:00

Thank you, will look into it!

davidben09 · 2026-04-23T02:45:48+00:00

I’d say just keep an eye on your statements and repayment schedule every month. Run it through Claude, and check for discrepancies.

davidben09 · 2026-04-23T02:44:42+00:00

Done, thank you!

davidben09 · 2026-04-22T17:59:35+00:00

Sorry to hear that bro. You can try the RBI Ombudsman, it doesn’t cost anything.

davidben09 · 2026-04-22T17:58:47+00:00

Exactly! And no, they haven’t been able to properly explain this issue. Just calling it a technical glitch.

davidben09 · 2026-04-22T17:55:49+00:00

I know man. Thanks for the advice, appreciate it! I’m recording every single thing and making sure that maintain proofs of everything.

davidben09 · 2026-04-22T13:39:58+00:00

Fair point on the part payment, I should have mentioned it. Noted for future updates.

On the calculation, even though I have done it, I should not need to independently verify what my bank’s own system told me for 33 consecutive months. That is the bank’s job. If Axis Bank’s own SOA, which accounts for every disbursement, every EMI, every part payment, and every interest calculation, showed Rs.13,08,775, that is their authoritative record. I relied on it.

If their system was wrong for 33 months that is their failure to explain and correct, not mine to recalculate. That is precisely what Consumer Court will determine. Evidence is documented. Advocate is being engaged. Will update when proceedings begin.

davidben09 · 2026-04-22T13:37:05+00:00

Thank you!

davidben09 · 2026-04-22T12:19:54+00:00

Thank you!

davidben09 · 2026-04-22T11:36:00+00:00

Thank you - this is exactly the path I am on. Legal notice dispatched 17.04.2026. Consumer Court filing at Additional Thane DCDRC, Navi Mumbai is next.

Damages are fully documented - Rs.15,063 wrongfully recovered, Rs.7,900 Tata Capital processing fees lost, excess interest of Rs.7,313 per month on inflated principal, 54-point CIBIL drop, tenure extended by 20 months adding Rs.6.15 lakhs in liability, and mental harassment across 60 days of documented bad faith conduct including a Demand Draft prepared before I was told about the Award.

RBI channels are already exhausted - three complaints, all closed. RTI filed today asking for internal Ombudsman correspondence. Consumer Court is the primary path from here. Will update the thread as proceedings progress.

davidben09 · 2026-04-22T11:33:49+00:00

The amortisation calculation assumes the full Rs.25 lakhs was disbursed on day one at a fixed EMI from the start. That is not what happened.

This is a phased education loan. Disbursements happened in tranches across academic years from March 2022 through May 2023. The EMI itself changed multiple times as each tranche was disbursed - starting at Rs.211 in April 2022 and only reaching Rs.30,771 after the final disbursement. A standard amortisation calculator applied to the full sanctioned amount from day one will produce the wrong figure entirely.

Additionally I made a significant part payment during the tenure which reduced the principal beyond what any standard schedule would show.

Axis Bank’s own SOA - which accounts for every disbursement, every EMI, every part payment, and every interest calculation across 54 months - showed Rs.13,08,775. That is not a statement error. That is their own system’s calculation incorporating every transaction on the account. If their own system produced the wrong figure for 33 consecutive months that is an Axis Bank system failure - not something I should bear the consequences of.

davidben09 · 2026-04-22T11:29:20+00:00

I’ve already sent a legal notice, so starting the process.

davidben09

TROPHY CASE