Legal Question in Banking Law in India

I have taken home loan, with Sanction of 15.5 % p.a. interest rate floating.The bank has done agreement with me for interest rate if as per RBI rule interest rates will change minimum 7.50% to maximum 15.5 %.p.a. is applicable from Co-oprative Bank. After 5 month of loan disbursment lnterest rate come down form 2000 to 2004 up to 8.50 %.p.a. The bank has not given me the benifit of interest. Can I get this interest benifit from bank ? Can I file the case in consumer court for this interest benifit ?

Asked on 12/31/10, 9:31 pm

J. Radhakrishnan independent Practice

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you can complain to the Banking Ombudsman. If he does not give relief, then you can complain to the consumer forum

Answered on 1/01/11, 4:47 am

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