We had taken a personal loan of Rs 430,000/- in July 2008. We had a good track record of paying the EMI's ontime, till late last year, due to job loss, My husband could not pay the EMI's for few months and in October 2010, a collection executive of the ICICI Bank, offered a loan closure saying that offer holds good only if the payment is done within october 30th 2010, we agreed after verifying the facts, Rs 90k by Cheque and remaining 60k in EMI's. The collection executive cheated on us by taking Rs 90,000/ as loan closure amount. Since we did not receive the settlement letter, we met the Bank managers and the Collection agency owner, and they agreed that the bank and its Collection agency were at fault, but now nothing can be done, now the bank is asking us to continue with the EMI's. Kindly let me know, can a case be filed against the Collection Agency & the bank managers in the consumer court ?. Whom should we approach to get justice, RBI, Consumer Court, Banking Ombudsman.

Dear ICICI Bank officials, please let us know how to close the loan ?