Legal Question in Banking Law in India

Can i know on the terms followed for ECS, If gave a instruction to debit my account on 10th of every month, can a bank or institution, debit it on 14th of the month. is there any timeframe they can use to debit the account

I got an ECS bounced because of this, i had balance in my account from 1st to 13th but exactly on 14th i did'nt had the balance, that is when this ECS got bounced back.

Thanks & Regards,


Asked on 6/02/11, 2:51 am

2 Answers from Attorneys
J. Radhakrishnan independent Practice

if on the date the ECS to be made is a holiday, the Bank may do it the next working day. If that date was not holiday and the Bank fails to give effect to EC mandate, and it does it later, when the debit could not be made on account of insuffiecy of funds, you can hold the bank liable in an action before the Ombudsman or consumer court.

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Answered on 6/02/11, 5:38 am
Professor SOMNATH MUKHERJEE MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)

GO TO CONSUMER COURT IF THERE IS ANY DISPUTE

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Answered on 6/02/11, 8:08 am


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