HDFC Bank will refund the GPS equipment commission to the auto loan borrowers during the year 2013-14 to 2019-20.
New Delhi. HDFC Bank has been hit hard by the flaws in Auto Loan. On the orders of the Reserve Bank, now the bank will refund the GPS Equipment Commission to the auto loan borrowers during the year 2013-14 to 2019-20. The bank has released its public notice.
HDFC Bank was accused of forcing customers taking auto loans to buy GPS (Global Positioning System) equipment by the bank at a cost of over Rs 18,000. On this, the Reserve Bank had also imposed a fine of Rs 10 crore on the bank earlier this year for lapses in loan disbursement. It is worth noting that last year, the then Chief Executive Officer of the bank, Aditya Puri, had admitted to irregularities in auto loan disbursement after specific allegations surfaced.
You can claim for refund of commission in the bank on toll free number
claimed on the toll free number to refund the commission in the bank, HDFC Bank spokesperson told News18 that the bank According to his records, everyone is refunding the money in his account. However, if the money is not received due to any kind of inquiry or any other reason like account closure, then you can submit your claim by calling 18002102678 on working day from 9:30 am to 5:30 am. Also, you can also email auto.refund@hdfcbank.com. For this, customers have to mention their auto loan account number. At the same time, the bank has said in its public notice that the refund amount will be deposited in the refund bank account of the customers registered with the bank. The bank has also asked customers to get in touch with them in the next 30 days.
There was also a violation of the privacy of the customers
Apart from the violation of the existing rules barring banks from selling any other product, questions were also raised about privacy. Actually, information about the location of the vehicle can be obtained from such a device. This violates privacy. At the same time, now HDFC Bank will have to return about 50 crore rupees of GPS equipment commission to the customers.
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