| Name of Complainant | |
| Date of Complaint | November 14, 2020 |
| Name(s) of companies complained against | Bank of India |
| Category of complaint | Internet Services |
| Permanent link of complaint | Right click to copy link |
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I would like the Finance Ministry and RBI to make a note of it that, When we make a DD from any bank at the same day the money is debited from the Account we get the DD and we give to other bank for any kind of payment but n this case the receiver bank or the receiver of any department where they ask for a DD says that after clearing the DD only we will say that the money is credited, in this process the bank takes 4 to 6 days where in this the money for which the DD is made for that money who is getting the Interest as the person who had made the DD is not getting the benefit of the 4 to6 days and the party to whom we had paid that party says it has not credited to us.
This above case was with me and my Husband, We had taken a Bank Loan from Bank of India, where we found more interest rate 8.5% till the month of October 2020, where all around in India all Nationalise bank was charging 6.5 to 6.9 female loan benefit including, due to Corona COVID-19 the revise rate from RBI which was instructed by RBI to reduce the interest rate, where bank of India had not done so we had decided to change bank from Bank of India to SBI all the remaining loan Balance transfer, We got the Loan approved from the SBI and we had given the DD of 36,60,000/- to Bank of India as we got the DD from the SBI, we had credited the DD on same day as we had received from SBI, but it took 5 days to credit in the Bank of India Account now here Bank of India has charged us for that 5 days as they claim that the DD was not clear though it was same District and State, and even SBI had charged us for that 5 days, My question to the RBI and Ministry of Finance is that where that 5 days has gone who has that money and why we are paying interest for that 5 days which comes approx 10.000/- for that 5 days, even the interest rate from March to October the Bank has charged more than what it should be as revised approx 2% of the Interest rate Bank of India has charged more.
I have this complaint against Bank of India, Malad East Branch, Mumbai
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