What Action Will Be Taken If Employee doesn't pay F&F

I joined Axis Bank on 12 July 2018 but due to some reasons I resigned on 13 July 2018 but now they send me full and final settlement letter which said that I have to pay 17000 rupees to the company for recovery of the notice period. Please help me that if I don't pay this than what action they will take plz help me.

In employment matters, one should be very meticulous in scanning an offer of appointment and decisive in acceptance. Every employer invests much time,money and energy in the process of hiring. You are resigning on the second day of your joining implies that you are highly indecisive. You have to pay the notice salary failing which you will not be formally relieved, treated as an absconder and it will even end up in your dismissal which will ruin your future employment elsewhere.

My reason behind resigning on the second day itself was because of a medical condition and I did request the HR to transfer my location but they denied thus leaving me no option.
I have requested them to waive off the F&F explaining them the situation at that time.
Do you believe I still would have to pay?

If your medical condition is genuine and so necessitated the place of postings of your choice, one can not be indifferent as the situation compelled you to resign forthwith.
Let's see whether the management waives the notice condition treating yours as a special case on humanitarian grounds in the face of their administrative inability to comply with your request for a particular place of postings.