quesbreach of contract by SBI in auto loan.demanding higher EMI after 02yr

can a bank after 02yrs of regular EMI payment suddenly demand higher EMI with outstanding dues and accrued interest stating the previous EMI as in the Letter of Arrangement was 'erroneously" fixed?what protection i have against such illegal demand of higher emi and outstanding demand.paid all emis regularly till date

  • ansHi,

    Bank certainly cannot ask for greater EMI until and unless you have agreed for it and the remedy against the same lies with Banks Ombudsman at RBI office. You can file a complaint with Banks Ombudsman at RBI office.

    Advocate Ankur Aggarwal

      Uday Park, Delhi

  • ansThe bank cannot do this. You can file a complaint before the consumer forum. Consult a lawyer at the earliest before penalties are imposed against you by the bank.

    Advocate Dhruv Suri

      Barakhamba Road, Delhi

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