Is there a way to take legal action if a bank unfairly denied my Pradhan Mantri Mudra Loan application, even though I meet all the requirements?

Apni Law
Apni Law
Law Forum › Category: Banking / Finance › Is there a way to take legal action if a bank unfairly denied my Pradhan Mantri Mudra Loan application, even though I meet all the requirements?
Vote Up
270
Vote Down
Apni Law Staff asked 1 year ago

Is there a way to take legal action if a bank unfairly denied my Pradhan Mantri Mudra Loan application, even though I meet all the requirements?

1 Answers
Vote Up
23
Vote Down

Best Answer

Apni Law Staff answered 1 year ago

Yes, you can file a complaint with the Banking Ombudsman if your Pradhan Mantri Mudra Loan application was unfairly denied despite meeting all requirements. You can also approach the relevant consumer forum or file a civil suit in the appropriate court.

You Might Also Like

In 2004, I took a home loan from ICICI Bank. Unfortunately, in 2006, the bank misplaced my post-dated cheque. This led to a distressing experience, with threats of legal action and relentless pressure. The bank’s actions caused significant mental, social, and financial stress. I presented my case before the District Consumer Forum in 2009, where the bank was held accountable. However, they seemed to hold a grudge and retaliated by raising my interest rate from 11.50% to 16.25%. Now, ICICI Bank is evading my requests for clarification under the Right to Information Act of 2005. They claim they are correct and the high interest rate is justified.

I applied for a home loan from Standard Chartered Bank, attracted by their promise of a low interest rate. After signing the agreement with a July 30th deadline, I submitted all documents on June 25th. However, instead of processing the loan, the bank started pressuring me to buy insurance and savings accounts. When I escalated the issue to the CEO, they made changes, but just before the deadline, they undervalued my property. They refused to accept the BMC-approved plan for valuation, citing an internal bank policy. This forced me to cover the difference of ₹17 lakh to the developer on the last day.

Hello! I’m Shashi Prakash from South Delhi, working at Bhikaji Cama Place. Last December 30th, I entrusted a housekeeping staff member with my debit card and PIN to withdraw ₹2,500 for me. After withdrawing the money, he didn’t return my card, and the next day, he withdrew ₹27,000 from my account. Now he’s missing from work. How can I get my money back? I’m willing to spend up to ₹5,000 to resolve this. Please guide me.

I recently won a case in the lower court. The judgment only mentions one bank. I’d like to add a few more, including Swiss banks, but they require a succession certificate to release account details. Is there a way to include Swiss banks in the certificate, perhaps by paying a small fee?

My mother took out an education loan of ₹3 lakh for me in 2011 and ₹4 lakh for my sister in 2012. The bank manager later informed her that she hadn’t provided security for the 2011 loan and needed to submit it for both loans. She deposited ₹10 lakh in a MIS account, allocating ₹4 lakh for the 2011 loan and ₹6 lakh for the 2012 loan. We’ve recently been told that the entire security deposit is only for the 2012 loan. What legal options do we have to release the security deposit and repay the 2011 loan?

Share This Article
Previous Article My cheque was deposited but bounced, and it’s been over three months. Can I file a legal case or re-submit the same cheque? I’m not sure how to proceed.
Next Article My wife and I got married two years ago without her parents’ approval. They later insisted on getting the marriage annulled and then remarrying us publicly. We went through the process of cancelling our marriage in a Ghaziabad Registrar’s court. I have some concerns about the legality of this cancellation. Can you tell me if this process was valid and legally binding?

Follow US

Find US on Social Medias
Popular News
- Advertisement -
- Advertisement -
Ad imageAd image

📢 Stay Connected!

Join our community on Telegram and WhatsApp for instant updates, news, and exclusive offers.