Legal Question in Banking Law in India
Dear all,
I had availed Rs. 85,000 as education loan from SBI bank, Mandya, Karnataka, during the year 2005. I have been paying interest and paid a total interest of Rs. 40,000 +, till date. But this repayment is not on regular basis. Whenever I get money I have paid. But recently, bank people called me and forced me to clear all the outstanding. But, I said, I can�t repay the full amount which is 1.25 Lakh. So, paid only 10,000 last month after they called me. But, recently, bank has approached the court and complained that, I have not met them since I took the loan and not paid any amount. (Even though I have paid RS 40,000 till date) and the court has issued me summons to report to the court. But, I don�t have any idea what to do now? Since, I am lecturer in position and feeling very shy to attend the court. Please somebody help me and guide me to resolve this issue.
1 Answer from Attorneys
19.04.2014
Repeat query. Already answered.
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