Banking / Finance Archives - Page 4 of 4

Law Forum › Category: Banking / Finance

Is a home loan based on a registered agreement of sale, but without a completion certificate or possession, legally valid in India?

Is a home loan based on a registered agreement of sale, but without a completion certificate or possession, legally valid…

Banking / Finance

4204 views1 answers427 votes

Apni Law answered 2 years ago

My sons took out an education loan in 2005, and I’ve been making monthly payments ever since. I sent Rs 2,500 to the SBI account, but they only transferred Rs 1,610 to the loan account. They also charged me more than Rs 2,200 in fees. I raised this issue in 2010, but never got a response. I stopped making payments in 2012. I was asked to attend a Lok Adalat, where I offered to pay Rs 2 lakh (the outstanding amount was Rs 3 lakh). They refused my offer. Now they’ve transferred the loan to Reliance ARC, and they’re demanding full repayment. My loan was unsecured. Is it legal for them to transfer an unsecured loan to an ARC?

My sons took out an education loan in 2005, and I've been making monthly payments ever since. I sent Rs…

Banking / Finance

4250 views1 answers431 votes

Apni Law answered 2 years ago

What happens if someone took a personal loan and credit card loan from a bank in India and couldn’t repay due to financial difficulties? If the bank sent notices for a while but didn’t file a lawsuit, what legal steps can they take after 8 years? If the borrower wants to settle the loan by paying a minimal amount they can afford, what decision might a court make if the bank files a case against them?

What happens if someone took a personal loan and credit card loan from a bank in India and couldn't repay…

Banking / Finance

4273 views1 answers431 votes

Apni Law answered 2 years ago

We took an education loan from SBI a year ago for â‚¹4 lakhs. We’ve been struggling financially and couldn’t repay the loan. We did manage to pay â‚¹30,000 in interest towards the loan. However, without any notice, SBI deducted â‚¹50,000 directly from our personal savings account, which is not connected to the education loan account. How can this happen? Is there any legal recourse for us to get this amount back?

We took an education loan from SBI a year ago for â‚¹4 lakhs. We've been struggling financially and couldn't repay…

Banking / Finance

4320 views1 answers432 votes

Apni Law answered 2 years ago

As a Branch Manager, I oversaw the processing and sanction of a few loans during my tenure. Some irregularities were later discovered, but these loans were eventually closed after follow-up. However, the bank has labelled these cases as fraudulent and filed an FIR against me, despite the borrowers admitting to taking the loans. What will happen to the FIR, and what steps should I take moving forward?

As a Branch Manager, I oversaw the processing and sanction of a few loans during my tenure. Some irregularities were…

Banking / Finance

4301 views1 answers436 votes

Apni Law answered 2 years ago

I deposited â‚¹10,000 into an ATM, but it malfunctioned and kept my money. The ATM printed a receipt saying the transaction timed out, and the money never appeared in my account. I went to the bank, but they insisted the funds were credited. I even emailed the bank chairman, but got no help. I’m feeling lost â€“ what can I do to get my money back?

I deposited â‚¹10,000 into an ATM, but it malfunctioned and kept my money. The ATM printed a receipt saying the…

Banking / Finance

4444 views1 answers445 votes

Apni Law answered 2 years ago

Life threw a series of unexpected challenges my way. After losing my father, my wife had a Cesarean delivery, but sadly, our baby didn’t survive. To add to this, I lost my job, leaving me emotionally drained and struggling to cope. As the sole provider for my wife and mother, I was overwhelmed and unable to respond to Axis Bank’s emails. I’m grateful to have found a new job at Capgemini and opened a salary account with Axis Bank. However, they are demanding a lump sum payment of 3 lakhs, which I am unable to afford. I am in a difficult financial situation and have no assets to fall back on. Is there any way Axis Bank can consider my circumstances and help me through this challenging period?

Life threw a series of unexpected challenges my way. After losing my father, my wife had a Cesarean delivery, but…

Banking / Finance

4438 views1 answers448 votes

Apni Law answered 2 years ago

My gym membership renewal went wrong! They charged my card twice, claiming one transaction didn’t go through. But my bank statement shows both charges. How can I get my money back legally?

My gym membership renewal went wrong! They charged my card twice, claiming one transaction didn't go through. But my bank…

Banking / Finance

4509 views1 answers453 votes

Apni Law answered 2 years ago

Is binary trading allowed in India? I’ve heard it’s illegal, but some people say otherwise. I’m confused about whether I should try it. Can you clarify if binary trading is legal in India?

Is binary trading allowed in India? I've heard it's illegal, but some people say otherwise. I'm confused about whether I…

Banking / Finance

4563 views1 answers453 votes

Apni Law answered 2 years ago

I’ve applied for SEBI registration thrice but haven’t been successful. If I provide unauthorized investment advice, would SEBI impose fines and seize property? Would this include my personal property or that of my wife, children, parents? Kindly clarify.

I've applied for SEBI registration thrice but haven't been successful. If I provide unauthorized investment advice, would SEBI impose fines…

Banking / Finance

4551 views1 answers456 votes

Apni Law answered 2 years ago

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.

In 2004, I took a home loan from ICICI Bank. Unfortunately, in 2006, the bank misplaced my post-dated cheque. This…

Banking / Finance

4556 views1 answers457 votes

Apni Law answered 2 years ago

My HDFC credit card, opened in August 2015, was paid in full until October 2015. After losing my job in November, I’ve fallen behind on payments, and the outstanding amount is now â‚¹90,000. I made minimum payments of â‚¹5,200 twice in April and May, after being contacted by collection agents. I received a “PDN DEMAND NOTICE” from a lawyer asking for full payment within 7 days. Back in February 2016, I had secured an extension till November 2016 through a text message from someone who called about the â‚¹5,200 payment. Is there any way I can get more time, until the end of October, to get my finances in order?

My HDFC credit card, opened in August 2015, was paid in full until October 2015. After losing my job in…

Banking / Finance

4601 views1 answers458 votes

Apni Law answered 3 years ago

My ECS for January 2016 was rejected by IDBI Bank, citing a closed account. I contacted both HDFC and IDBI Bank via email, but received no satisfactory response. After personally inquiring with IDBI, they confirmed in writing that the details submitted by HDFC were incorrect. I provided HDFC with a letter from IDBI on April 28, 2016, but have yet to receive a proper response. Despite daily contact with HDFC staff, they offer excuses every day. Is it advisable to take legal action against both banks for causing me significant mental stress, impacting my CRISIL score, and wasting my precious time?

My ECS for January 2016 was rejected by IDBI Bank, citing a closed account. I contacted both HDFC and IDBI…

Banking / Finance

4781 views1 answers477 votes

Apni Law answered 3 years ago

My CIBIL report wrongly shows outstanding bank loans I never took. I’ve repeatedly asked them for proof, even requesting my signed documents, for the past 3 months. But they haven’t corrected the report or provided evidence. They just say they’re waiting for the bank’s reply. This forced me to take a home loan at a higher interest rate. Now, I need to get my CIBIL report fixed and seek compensation for the trouble their mistake caused.

My CIBIL report wrongly shows outstanding bank loans I never took. I've repeatedly asked them for proof, even requesting my…

Banking / Finance

4880 views1 answers487 votes

Apni Law answered 3 years ago

My loan case is in arbitration, and I’m responding to notices and will attend the hearing. Can the NBFC’s recovery agents or legal team still visit my office or home, or call me for recovery?

My loan case is in arbitration, and I'm responding to notices and will attend the hearing. Can the NBFC's recovery…

Banking / Finance

4947 views1 answers491 votes

Apni Law answered 3 years ago

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