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LIC HFL Reviews

rajiv337 July 21, 2011
ECS excess charges issue: Loan A/c No 014013636 and File No 663157
Dear Sir,

I have a loan account running with LIC HFL that I had availed from Chandigarh Area Office. My Loan A/c No 014013636 and File No 663157. I had problems in enabling the ECS for the same. And I have to pay the fines caused due to wrong data filled by LIC HFL personnel.

I am trying to get the ECS done from my Citibank Account of Delhi Region. The MICR code of Citibank Delhi Area is 1100 37002. But LIC HFL officials in Chandigarh says as the Loan Account is in Chandigarh they are using the MICR code as 1600 37002 for the debit request. I am not sure whether it should work or not. Also I am not convinced with the reason for using MICR code as 1600 37002 while the actual MICR code for my citi bank account in Delhi is 1100 37002.

Kindly let me know the valid reason for using different MICR code and not using the one linked to my bank account.

As per LIC HFL, my ECS request has got rejected from the bank. They had not given me any reason as they say as per there system the reason specified in Miscellaneous.

As I am unaware of the same, LIC HFL had levied a penalty on me due to late payment as well as ECS bounce back charges.
They are levying me that penalty again for the subsequent months.

Also I like to know . So is it right to put the debit request again with same details and penalize the consumer for ECS rejection 2nd time.
Is it not violation of ECS Debit Procedural Guidelines, Section 6, Sub-section (iv), part (c).
Please guide me the way forward.


ECS Debit Procedural Guidelines, Section 6, Sub-section (iv), part (c) that states :-
Since this facility would be generally used for regular collection of dues from its
customers, it will be the responsibility of the User to ensure that the items returned by the
destination banks with any one of the reason codes 1, 2, 3, 6, 7 and 8 indicated in
Annexure-VI are not resent / re-presented without carrying out the necessary corrections
after obtaining the correct details from the Destination Account Holders / Destination
Banks. Sponsor Bank may obtain an undertaking from the User in this regard before
forwarding the input data to the NCC / Clearing House.

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