Legal Question in Banking Law in India

Sir,

Thanks for your answer on SARFEASI act.But I'm paying monthly intrest and already paid 1,80,000 principle of 6 lakhs 5 months ago.Suddenly they are asking me to renewal the account. When i'm paying regurarly,then why should i renewal that account by paying extra 25000 as openning of new account and scheme?Do i have right to proceed against bank through approaching customer court?


Asked on 7/23/10, 6:47 am

2 Answers from Attorneys
Deepak Chandna Chandna & Associates

Yes you can approach Consumer Court of your area and can file a complaint either personally or through an advocate

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Answered on 7/23/10, 6:55 am
J. Radhakrishnan independent Practice

It is the practice of banks to renew the account every year. You can refuse to pay any extra amount other than that goes to reduce your outstanding due for renewal. If the Bank asks for any extra amount which is not agreed upon,you can after seeking redressal from the C.E.O of the Bank if proved unsuccessful, complaint to Banking ombudsman for deficiency of service.

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Answered on 7/23/10, 7:00 pm


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