Bank interest on loan

Achhru Kumar Singla (Querist) 18 July 2014 This query is : Resolved
Bank has charged excess interest than the contracted rate. on submission of claim of excess interest charged, bank replied that panel interest is charged in the account but no statement of the account indicates that any panel interest charged in the account. As per the guidelines of the RBI, penal interest to be shown separately in the statement of accounts if charged.
Kindly advice to get the refund of the excess interest charged by the Bank

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Dr J C Vashista (Expert) 19 July 2014
Did you demand refund of excess interest charged?

Sudhir Kumar, Advocate (Expert) 19 July 2014
complain to RBI

Sudhir Kumar, Advocate (Expert) 19 July 2014
repeated queries

http://www.lawyersclubindia.com/experts/Bank-officers-misrepresentation-and-inhumane-activity-485016.asp#.U8nF-kBvdG0

Sudhir Kumar, Advocate (Expert) 19 July 2014
repeated

http://www.lawyersclubindia.com/experts/One-time-settlement-with-Bank-485001.asp

Rajendra K Goyal (Expert) 19 July 2014
For repeated query, no reply.

ajay sethi (Expert) 19 July 2014
repeated query

K.K.Ganguly (Expert) 19 July 2014
Well, no answer this time.

T. Kalaiselvan, Advocate (Expert) 19 July 2014
Penal interest will be charged generally on default of repayment, check it up with the transactions and make a complaint with the higher officials of he Bank's head office.

Sudhir Kumar, Advocate (Expert) 20 July 2014
why query repeated because the advise is free

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