I have taken home loan from sarswat Bank on PLR system, because of covid 19 Bank is reducing the interest rate, i have Applied for reducing interest rate to bank. Bank is taken a letter from me for reducing ROI is 0.25% on processing charges, Bank is sanctioned my request delayed by 3 months, i have taken objection 1) Bank is never inform me for reducing ROI 2) Reason for Delay 3) Bank never given reply on my letter in time 4) Bank is adjusted 3 month interst loss is with processing fees 5) any Bank is not taking reducing ROI Processing fees is around 10,000/- ..

Bank is not given proper reply their for i have applied to Banking Ombudsman but Banking Ombudsman is also passed order in favour of bank.

In this connection it is advised that we have examined the same and It is observed that bank has considered delay in process and compensated customer in processing fee.

In view of the above we are closing the same under Clause : 13 (1) (a) - Clause 13 1.a not on the grounds of complaint referred to in clause 8; of the Banking Ombudsman Scheme 2006.

Kindly advice me next step for dissatisfied order passed by Banking ombudsman
You may file an appeal with the Appellate Authority of RBI within 30 days of receiving the award by Banking Ombudsman. You have to work out, with proper justification, the monetary loss suffered by you due to delay by the bank. Please also demand a copy of the policy of the bank on treating repayment of EMI, reduced rate of interest, etc., on home loan accounts, during the Covid19 pandemic, based on which you will come to know whether the bank acted accordingly or not. Please also note that the delay in the initial stages may be because of country-wide lockdown when even bank staff was not allowed to work from office in its full capacity.
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Sucheta Dalal Trustee - Moneylife Foundation

Abhay Datar Abhay Datar is a consumer activist and is also Member of the Managing Committee of Mumbai Grahak Panchayat (MGP). He was Treasurer at MGP for over two and a half years. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of MGP in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related to mobile and mediclaim. Mr Data

Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank

R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.

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