Hi all
I have taken a personal loan from Bank of Baroda, they never intimated me about EMI date or not sent me disbursal schedule. Every month on 28th bank has been transfering balance lying amount from my saving bank account to loan account and remaing amount if any of EMI amount deducting on when my salary transfers in my saving bank account every month.
I have taken personal loan from the same bank 3 times in past and every time they had deducted EMI amount on 10th of every month.
Now the bank has issued a letter to my employer as intimated about "default"
Sir, My questions are :
1. "IS THIS DEFUALT"
2. Should Bank first made contact with me ? after failure at my part, then they can made contact with my employer. But they directly approached with my employer.
Please advise me what action sould I take against Bank.
Best Regards
B.P. BHARDWAJ
yes, it is default.
send a legal notice to the bank,that without informing u why bank approch yr employer!
Before doing contact the Manager of the bank since this may affect the relation between u and the bank
as so far now u have taken loan 3 times and first time u are experianceing this .
May be a mistake at lower level can be corrected when u approach them
It is purely my personal opinion
As per Regulatory norms you are entitled to acknowledge the terms and conditions of the loan sanctioned. You have every right to call for repayment schedule by just submitting an application to the bank
y .es. deficiency in service ,Action under C P Act .for approaching employer file defamatory suit .for detail contact 9414072738
As suggested by the learned members deal the matter in writing and lodge your protest.
Based on the written reply from the bank you can take further steps.
Certainly this is the fault of the Bank. You can make a Complaint before Banking Ombudsman as well as you can file a Complaint before Consumer Forum and also it is defamatory and you can file a Criminal Complaint under section 500 IPC against the officers of the Bank involved in the matter.
Though it is clear case in your favour with regard to Banking Ombudsman at the same time it is not legally tenable under the provisions of the Indian Penal Code as suggested by Agarwalji.
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