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Bank hid The subsidies Received from Governments For Educational loans
03-Aug-2023 (In Banking / Finance Law)
Bank hide the subsidies received from governments for Educational loan and rate of interest calculated 12.5 to 13.5 percent per month not annum. After sending report to ombudsman the bank told me that 27000only received as subsidy out of 150000. In this case I came to to know that the bank not only hide the truth and wish to collect Educational loans as a financial institution. In this case what is the solution to get proper details. The bank sent first notice that the loan is 350000 after sending report to ombudsman they send another notice that a sum of Rs 27000received as subsidy.
You may ask the bank for information on subsidy received, by means of an RTI application. You may then produce the bank's statement before the Banking Ombudsman and seek necessary redress of your grievance.
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Adv. Swaminathan Neelakantan
Coimbatore | 400+ Answers
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