Legal Question in Banking Law in India

Sir,I am ex Sbi officer.durring my job in SBI I have taken various staff loan and on 5aug 2013 at the time of resignation i have closed all the loans except car loan of Rs 5lacs .at that time zonal head quarter has told that we will convert this loan to public terms and condition .I was having 3lacs SB account balance at the time of resignation but they told that it will be converted.later on after 1year they have told that due to software and technical problems we r not able to convert yr loan and we will debit interest difference manual.in feb 2014they have debited Rs 27000interset difference and later on for one year period they have debited Rs 99537 interest difference in month of Feb 2016 which is wrong and next day Branch Manager called me to close my account with full amount ..I told that yr calculation is wrong and first of all credit excess interest amt to my account .I paying more than scheduled emi through my salary account having in same Branch. Branch manager has send a notice followed by legal notice through bank advocate for non closer of staff loan at the time of resignation,while they have agreed to convert it.kindly give suitable advise for further action against this Branch Manager.Thanks a lot


Asked on 5/30/16, 7:25 pm

2 Answers from Attorneys
Dr Katta Venkata Rama Krishna Drkattavrk

1) Reply to the notice and file consumer case with facts for deficiency in service.

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Answered on 5/30/16, 8:59 pm
Fca Prashant Chavan Expert Edge LLP

31.05.2016

Dear Sir / Madam,

Prolonging the matter further is not advisable and recommended. You should visit the Branch, discuss and agree upon the interest calculations and the final total outstanding car loan amount, repay and settle it, and obtain the loan closure letter from the Bank at the earliest.

Regards,

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Answered on 5/30/16, 10:30 pm


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