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Took education loan now bank is asking for pay penalty


22-Apr-2023 (In Banking / Finance Law)

My daughter availed a student loan for study abroad from Bank of India in August 2014. The bank is now asking me to pay stamp duty plus penalty. No notice had been served on me by anyone before imposition of such penalty. What shall I do ?

Answers (1)

Answer #1
912 votes
Dear sir, I think no stamp duty or penalty can be claimed at this stage. loan is already taken and there is no provision to impose penalty or stamp duty on customer without intimation or their consent.
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Advocate Sunil Kadam

Adv. Sunil Kadam

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