sukhbir singh (managing director) 14 July 2012
Bank overcharged interest to the tune of Rs.12.31 lakhs and refunded it after a gap of over two years. The Bank continued to charge interest on bills which had already been adjusted long ago. The Bank comes to know of the same after a gap of 22 months. It just refunded the excess overcharged interest. The question is whether I am entitled to ask the Bank to pay interest on this amount alos for the period the amoutn remained with the Bank.
surjit singh (Assistant) 15 July 2012
Yes you are entitled to interest on the excess amount from the date as per the calculation your due was cleared. If the interest is not paid you can approach the Banking Ombudsman with the Reserve Bank of India or approach the consumer court. There are decision of apex court where you can get the interest at the rate the banks lends to its customers.
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