| Name of Complainant | |
| Date of Complaint | August 16, 2026 |
| Name(s) of companies complained against | Shriram finance pvt LTD |
| Category of complaint | Banking |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
      |
|
I am facing an unfair bounce charge issue with Shriram Finance.
My EMI was due on 2 June, and I paid the full EMI manually through the PhonePe app on the same date. Despite making the payment on time, Shriram Finance later attempted to debit the EMI again through the auto-debit mandate that was already enabled on my bank account.
Since the EMI had already been paid, I expected the company to update its records and cancel the auto-debit request. Instead, the auto-debit was still presented to the bank, which resulted in a failed transaction and a bounce charge of ₹1,000 being levied on me.
My concern is: why doesn’t the company verify whether the EMI has already been received before sending an auto-debit request to the bank? If the payment was already credited on time, customers should not be penalized because of an unnecessary duplicate debit attempt initiated by the lender.
Has anyone faced a similar issue with Shriram Finance? Were the bounce charges reversed, and what is the best way to get this resolved?
Image Uploaded by krishna mohan: