Legal Question in Banking Law in India
After how many years bank can change past interest rates on home loan and demand for reimbursement.
Asked on 9/22/14, 10:06 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
As long as the account is current and running and payments are made, the bank can correct any past mistakes in calculation of interest with due notice to the borrower. If found unjust, it can be quesitoned.
Answered on 9/22/14, 8:19 pm
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