- This topic has 16 replies, 9 voices, and was last updated 1 year, 5 months ago by
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UOne day, my father lost ₹75,000 in a scam call from someone claiming to be from SBI’s credit card department. The caller said that a service had been activated on his card and instructed him to fill out a form and submit an OTP to deactivate it. Trusting the caller, my father followed their instructions.
After the transaction, he received four calls from SBI asking him to confirm if the transaction was made by him. He denied it every time and raised a dispute within 10 minutes. He also blocked the card immediately. Despite our efforts, including writing multiple emails while the amount was still unsettled with the merchant, SBI responded after 14 days, stating that the dispute was unsuccessful and that we had to pay the amount. However, they did not provide any valid explanation for why the dispute failed, only saying that it was a “secured transaction.”
The scam was well-coordinated. For over a month, my father had been receiving calls from the SBI team asking him to enable a protection plan. The scammer exploited this by claiming that the protection plan had already been enabled and convincing him to fill out the form to deactivate it.
We cannot afford to pay ₹75,000 for something like this. I want to know, what is the worst that SBI can do if we do not pay the bill?
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Ucomplain to rbi ombudsman. They may be able to help you out in this. It is a central grievance portal by the rbi and useful when banks don’t help you. I am not sure what the rules say when someone scams you to make the payment yourself but you will at least get a proper help support from the bank.
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UIn the meantime should we pay? Do they have the authority to take stuff from our home, if we are unable to pay the bill?
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UIf that’s the case then its a relief.
Because as I am going through such cases I am hearing like they will make our life torture and in extreme cases reach out to our house and take stuff.
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SThose are application related agent. But yes, recovery agent may get hired by sbi as well but not immediately. You will be first penalized for not paying the amount and it can go upto 30% interest.
If still not paid then bank may approach you in order to clear the dues. -
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BCIBIL will be gone for a loooong time. Also goons might harass you for a bit after SBI transfers the debt to the collection agencies.
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IThe bank would treat this as two separate matters: one of fraud, which they would try hard not to accept, as your father did provide the PIN/OTP himself. The second would be the card’s dues owed. The two separate “departments” would not communicate or take responsibility.
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Then comes the post-default money recovery:
1. The bank will start contacting you via calls/texts. The behaviour of the calls would deteriorate as time progresses.
2. Third-party agents would also contact you, and they could behave worse.
3. You would receive many legal notices, some fake, some real.
4. You may also get home visits from such TPAs, and depending on the area you live in, their behaviour could be downright criminal.I advise you to read up on defaulter rights and not tolerate any misbehaviour. You may have to later settle the account by paying 30-50% if the “investigation” does not end in your favour, as your father had some negligence and thus some responsibility
The actual real action is a recovery suit against your father in court. Other than that, whatever the TPAs and banks might claim, they cannot do anything. Especially not taking anything from your home without your consent.-
UThanks for the detailed response.
So, few questions if you can help me with i would really appreciate.
How long will the harassment continue before the settlement?
If the bank wins the case, will they take money or things from our home? Will they still add high late payment interest?
Can they harass my father or our family in public, like at his office or in the market?
What is the best way to handle this? I’m really worried about my father and family.
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