HDFC BANK - 580 days Interest claim on HDFC Bank for Financial Loss due to Reneging on RBI Ombudsman Settlement

I am filing this consumer complaint against HDFC Bank for deficiency in banking service, unfair conduct, and wrongful delay in complying with an RBI Ombudsman conciliation proposal , which caused substantial financial and operational harm to my organization.

In February ****, I filed a complaint before the RBI Ombudsman under the Reserve Bank Integrated Ombudsman Scheme (RB-IOS ****) against HDFC Bank and consequential financial losses suffered by us.

During the conciliation proceedings held before the RBI Ombudsman in March ****, both parties mutually agreed to a settlement proposal whereby the total assessed liability of Rs. **,**,*** was apportioned in the ratio of **:** between HDFC Bank and the complainant.

Accordingly:

* HDFC Bank agreed to bear liability of Rs. **,**,***
* The complainant agreed to bear Rs. **,**,***

This compromise proposal was accepted and signed by both parties during the conciliation proceedings and was formally recorded in the RBI Ombudsman proceedings. HDFC Bank was granted time till **.**.**** to comply with the agreed payment.

However, despite agreeing to the settlement before the RBI Ombudsman, HDFC Bank failed and refused to honour the compromise and did not release the agreed payment amount within the stipulated timeline; and reneged an already agreed compromise proposal.

Consequently, the RBI Ombudsman passed a formal Award dated ** May **** directing the bank to comply with the payment obligations.

Instead of complying with the Award, HDFC Bank further prolonged the matter by filing an appeal before the RBI Appellate Authority. The matter remained pending for an extended duration, causing severe financial hardship and business disruption to our organization.

Thereafter, the RBI Appellate Authority, Mumbai, vide its detailed speaking order dated ** October ****, upheld the original RBI Ombudsman Award and directed HDFC Bank to comply with the payment within ** days.

Only after exhaustion of the appellate proceedings did HDFC Bank finally comply with the payment direction.

Due to the bank’s wrongful refusal to honour the mutually accepted settlement and its prolonged delay in making payment despite admitted liability, our organization suffered significant economic and operational losses, including:

* NACH mandate bounces
* severe working capital disruption
* liquidity stress
* operational and business interruptions
* financial penalties and charges
* reputational harm
* avoidable business losses caused solely due to delayed payment

The bank’s conduct amounts to:

* deficiency in service
* unfair banking practice
* arbitrary and negligent conduct
* wrongful withholding of funds
* harassment through unnecessary prolongation of proceedings despite admitted liability

I seek:

*. Interest on delayed payment of Rs. **,**,*** for the entire delay period
*. Compensation for financial and operational losses suffered due to delayed compliance
*. Compensation for harassment and deficiency in service
*. Reimbursement of costs and expenses incurred
*. Appropriate action against the bank for unfair conduct and non-compliance with agreed settlement obligations

I request that the matter be resolved urgently and appropriate compensation be awarded for the losses caused by HDFC Bank’s conduct.