Customer is entitled to detailed statement of loan sanctioned, intetest payable , number of equates monthly instalments payable

2) in present case it is surprising bank has not given in writing EMI payable by you

3) further fir every year bank gives statement of interest paid , principal amount paid for income tax returns

4) in early years more amount is payable towards interest and less towards principal

5) insist on detailed statement of account from bank

If customer complains against manager he would be in trouble as he has failed to furnish to customer detailed statement of account

Ombudsman would direct bank to give detailed statement of account to customer

1. It is really weird how the borrower is paying on the verbal communication of the creditor bank.

2. If the loan was valid then the bank would place a demand for EMI every month unless there is a system of payment through ECS.

3. So if there is demand or deduction through ECS there is no way this communication cab be held as verbal.

4. Without this there is no other way the loan can be repaid.

5. So give some clarification on the written communications of the loan taken and subsequent placing of demand of EMI.

If there is a calculation mistake in EMI that can be corrected by making the correct Email for from the current month and adjusting the loan period accordingly

There is no such problem SBI account is not npa and EMI is not in default

1. At first the borrower should obtain the loan statement from inception of his loan account. The loan statement mentions the amount sanctioned as loan, the rate of interest and the EMIs to be paid.

2. There is no room for a verbal disclosure at the time of sanctioning loan. The rate of interest and EMI has to be mentioned in the loan sanctioning letter.

3. Write to the Banking Ombudsman against Branch Manager to complaint that he has despite demand failed to furnish the loan statement.

Sir no verbal communication in such cases is valid the bank has to give all details in writing regarding the EMI interest rate and tenure of the loan.

in case the no loan sanctioning letter is provided along with all details collect documents from bank and check EMI payable.

Since still account has not turned NPA contact bank and settle loan based on the written terms.

Complaint to banking ombudsman regarding this irregularity of the bank.

After complaint to the banking senior authorities and ombudsman the bank manager can face Disciplinary committee for the irregularity and penalty can be levied.

In case the case is established and proved before the ombudsman the customer shall get relief.

Dear Sir,

There will an enquiry in the department and even if taken VRS liable for charged till 4 of his retirement. Just lodge complaint with the concerned authorities and also seek interference of Banking Ombudsman and Head Office and Vigilance of the concerned Bank.

1. If bank has admitted that it is their mistake then the concerned officer will be liable

2. any excess amount paid by borrower will be recoverable from the bank and not from the concerned officer

You can obtain a detailed statement of the loan repayment and also the EMI amount that is to be paid in future in writing.

You reconcile the same from the details of the payments made by you so far.

If you find any irregularity in this you may make a representation in writing and get them rectified.

The outstanding loan will get reduced at the later stage of the total tenure of the loan agreement period,

In case of the above, how will it affect the manager if he has applied for VRS or superannuation.

The banking system has its own calculations.

If there is any discrepancy found, the bank will first calculate the loan repayment manually, feed them to the computer, will rectify the error wherever found and bring back the loan and its repayment process back to normalcy.

If you are as a borrower not satisfied then make a representation to the bank authorities, if there reply is not satisfactory then you may drag them to the consumer corum ]seeking relief and remedy including compensation for the mental agony you suffered.

Banking ombudsman will be giving verdict in favor to the customer only?

Banking ombudsman will not mandatorily give a verdict in favor of the customer alone, he may go through the details and if the error is on the bank;'s side, then he may direct the bank to rectify the mistake as per rules and procedures. If not then the decision will given in favor of the bank.

You must approach the banking ombudsman

It will not effect the manager

It is not the case that banking ombudsman always decide in favor of the bank, he is bound to pass a reasoned and speaking order.

Regards