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Thread: Stanchart Cards Bank Harassing me

  1. Stanchart Cards Bank Harassing me

    Dear all,
    I am not sure whether i am posting in right thread or not?. I have a problem with the Standard Chartered Bank Credit Card. My Issue is cooking from last two years still unresolved. Request you all to please take 5-10 minutes in reading my problem and suggest me a solution to get rid of mental and physical harassment from the bank officials.

    Brief Gist of the problem:
    I used my card for Rs.50,000/- , after one month i got a phone call from bank requesting to convert to EMI Payment option which can be closed anytime after paying the entire amount,further the request can be given on call center phone. Initially i refused but they called me regularly and disturbed me. one day when i was busy with my office work i unintentially agreed to convert.
    Then they had opened a seperate account for the EMI Payments and it was reflecting in my card statement which was very confusing to understand. I felt it was a mistake to accept the offer and this confusing statement,After one month i paid the total amount and asked to close the EMI Account over their call center number( this is the procedure they told me when this option was chosen by me unintentionally).

    Till then they never closed the EMI Account but continuously showing my payment (in lieu for the Rs.50,000/- used) in the credit part of the statement,which is again confusing. I repeatedly requested many times over phone to close the account but they give unrealistic information and denied to close the account. No proper clarification was given.

    Later some months some collection goons started harassing me for the payment , when i explained the situation they never acted to it moreover asked me to do final settlement which again is huge sum which was forced charges. They used all the abuse language and started wasting my personal and office time. I was communicating for the clarification from the bank over emails but no proper information was given.This was continuing and one day all of the sudden they stopped calling me.

    But i tried to get the status by calling the call center wherein they told me that card was in inactive state and they cannot help in providing any information. Even i stopped to pursue on this later. After one year they started again from scratch saying that i need to pay the huge sum accumulated in interest other wise they will proceed in legal court . They threaten me of issuing me Summons from court. I am worried now how to deal with this situation ? Can any one please suggest me how to deal on this issue?
    --Rama Kanth

  2. Re: Stanchart Cards Bank Harassing me

    Credit card operations are under the direct control of RBI. Several guidelines have been issued by RBI on the matter of unfair practices by the card issuing companies. A very important circular letter has been addressed by the RBI to all commercial banks in this regard and I am furnishing the link for the same here. Reserve Bank of India.

    Another master circular appears to have been issued by RBI during the beginning of this year. Though I am unable to trace it in the RBI's web site, I have been able to get the full version of this through another source and the same can be viewed here:

    In a nut shell, you have to keep safely all the proof of your payments and other correspondence till the matter gets resolved. In the meantime, a complaint needs to be filed with the RBI regarding the unfair practices adopted by Stanchart.

    You also need to file a police complaint against Stanchart and their collecting agents for causing harassment and intimidation (Remember to take their names and IDs when they call on you next time). Remain firm with a resolve not to be cowed down with the frequent visits of goons.

    Incidentally, a group of lawyers in Chennai have formed a Trust under the name of Centre for Social and Economic Justice and they have filed a public interest litigation in the Madras High Court last month to strictly enforce the master circular mentioned above. In this petition, they have included the Finance Ministry, RBI, IBA and all the credit card issuing Banks as the respondents. The details of the same are available at
    Last edited by ganpat1956; 30-09-07 at 07:16 PM.
    Defeat is not final when you fall down. It is final when you refuse to get up.

  3. #3
    C J Karira
    Blog Entries
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    Re: Stanchart Cards Bank Harassing me


    Besides what Ganpat said, please also have a look at the following:

    ICICI Bank to give 15 lakh rupees to family of two personal loan customers who committed suicide after alleged harassment |

    India 360: Banks under fire for suicide cases - Yahoo! India News

    The following two websites will also be of help to you:

    The Banking Codes and Standards Board of India (BCSBI)
    ..:: BCSBI ::..

    The Credit Card Holders Association of India
    Credit Card Holders Association of India

    Please also read the following circulars from RBI (they look different from what Ganpat has pointed out):
    Last edited by karira; 30-09-07 at 07:44 PM.

  4. Re: Stanchart Cards Bank Harassing me

    ganpatji and karira,
    great information.
    one more suggestion, never speak over phone. ask them to send you email and also you want to say some thing do it over email. if done over phone confirm by email.
    get complete statement of all the credit and the payment made.
    and make this request in writing.
    sit with one of your friend who understand finance may be ca
    i am sure armed with all the information and fir against the goons you will be able to resolve your problem.
    Last edited by maneesh; 30-09-07 at 08:05 PM.

  5. Re: Stanchart Cards Bank Harassing me

    Dear ganpat1956,karira,maneesh ,

    Thanks a lot for all your replies. Now i am feeling a little comfortable with all your suggestions. Only thing i am frightened is the bank guys call me and harass me saying that they will send summons from court. I never had any communication or visited any police stations or courts in my lifetime, maybe that might be the cause for my frightened.

    Now i am feeling secured and safe as nice friends like you are there with me giving valuable suggestions

    Rama Kanth

  6. #6

    Re: Stanchart Cards Bank Harassing me

    Hello Rama Kanth,

    In addition to what Ganpat1956,Karira & Maneesh have suggested, I would suggest you to approach RBI Ombudsman for redressal of your grievance. You can lodge your complain online without going to court.
    Here's the link to RBI's Ombudsman Scheme. Reserve Bank of India.

    Also, Credit card Companies very rarely go to court for recovery.


  7. Re: Stanchart Cards Bank Harassing me

    Credit card Companies very rarely go to court for recovery.
    That is a piece of information, I must say.

  8. #8
    Col NR Kurup (Retd)
    Blog Entries
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    Re: Stanchart Cards Bank Harassing me

    Now I feel proud of being part of this group.

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