The Ministry of Women & Child Development, Government of India is to form a National Alliance against Online Child Sexual Abuse and Exploitation with the aim of developing a comprehensive outreach system to engage parents, schools, communi
I took an educational loan which has mostly been repayed over the period of six years.
Initially my parents took care of interest payments for for years of my education. Then I started repaying it after completion of my studies and it took me six years to finish it. Few months before it was supposed to be finished bank charges recovery of 49000 as they charged me 1% less.
If they had charged it as simple interest then amount would have been around 10k but they charged compound interest from back date.
Am I in the wrong to expect that they should have charged simple interest for their mistake? Are the any previous similar cases where court decided in the favour of customer?