My mom who 57 and has never defaulted in any loan got cheated by a bank that is listed on stock exchange. Advice on what I can do

[User_4543f9d0]

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User_4543f9d0
PARTICIPANT
February 25, 2025 at 3:36 pm

One of the upcoming banks in India made false promises to my mom on loan. And after making account on the day they were supposed to transfer money. They are baking out. We have made commitments with the money. Don’t know wha to do. What are my options. Need help

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[Superfalcon1999]

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Superfalcon1999
PARTICIPANT
February 25, 2025 at 3:40 pm

More information needed. What type of loan? How did they cheated you? Like did they sent email/text which can be used against them? Or was it verbal.. can u explain the situation in detail OP?

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[User_4543f9d0]

U

User_4543f9d0
OP
February 25, 2025 at 4:41 pm

My mom who is 57 was looking for a loan. So we went to the bank and asked them for a loan and how much she is eligible for. She is a single parent and we needed the money. The banker took her details and information on where she is working and all. Then reverted back to her on whatsApp saying that she is eligible for 10 lakh for 5 years. We agreed and proceeded with getting the loan. There is a officer from the banks loan department who came to our home to do background check who said mam your history is amazing… You have never defaulted (which is true) we will transfer the money next week. They promises on whatsapp that the money will be transferred next week. It’s taking so much time because she doesn’t have an account with the bank, we have to create the bank account first. As the bank employee assured that everything is done and it’s just about transferring the money. And that she will surely get the money. My mom made commitments based on the fact that we are going to get the money. Now today when the money was supposed to be transferred the bank is backing off saying that she is not eligible because of her age and that they didn’t notice her age. This bank is publically listed

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[User_4543f9d0]

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User_4543f9d0
OP
February 25, 2025 at 4:41 pm

The employees there are agreeing that it’s there mistake

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[Calmeagle9213]

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Calmeagle9213
PARTICIPANT
February 25, 2025 at 4:54 pm

Nothing can be done. The bank employees realised their mistake before the disbursement happened. Doesn’t matter if it’s listed or not.

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[User_4543f9d0]

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User_4543f9d0
OP
February 25, 2025 at 4:59 pm

But isn’t it unfair that you make my account in your bank and tell me 10L is approved and today when you had to transfer the money. Now they tell me it’s not possible

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[Calmeagle9213]

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Calmeagle9213
PARTICIPANT
February 25, 2025 at 5:06 pm

Unfair, yes. Do you have a right to go against them, mostly not.

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[User_4543f9d0]

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User_4543f9d0
OP
February 25, 2025 at 5:00 pm

Why even assure me of getting the money if it is not possible

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