Nach Ecs Of Loan Cancellation -loan -17k Ecs Mandate-60k

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Yes, you can cancel the ECS/NACH mandate, especially since the mandate amount (₹60,000) is far higher than your actual loan (₹17,000). Immediately take the following steps: 1. Write to your bank – Submit a written request to stop/cancel the ECS mandate, clearly mentioning the loan account details and the incorrect mandate amount. 2. Inform the lender – Send a notice/email to the lending institution explaining that the ECS amount is incorrect and you are disputing it. 3. Block further debits – If the bank does not act quickly, you can place a stop payment request through net banking or at the branch. 4. Collect proof – Keep acknowledgement receipts, screenshots, and correspondence. 5. If unauthorized debit occurs – You can file a complaint under RBI’s ECS dispute resolution and escalate to the Banking Ombudsman. If the lender insists on keeping the mandate, you may need to send a legal notice to protect yourself and avoid misuse. For further help, I can draft the cancellation request and legal notice for you.

Advocate Sujith Kuchipudi LawRato