Banks should be punished heavily for wrong charges and wrong interest

Banks should be punished heavily for wrong charges and wrong interest

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Ashutosh Daga started this petition to Finance Minister of India and

Resp. Sir,

Now a days, banks are charging heavily for any services including delayed payments. There is no control over it. Moreover if borrower doesn't pay, then they ruin borrowers cibil score. 

Its one way traffic and there is no appeal to it. Its not justified at all. Just look at banks other income. Its white collar crime. Most of the poor people loose their hard earned money due to heavy banking charges.

Moreover, there is no provision with CIBIL to report or highlight banks misdeeds and exorbitant charges. 

Most of the times, banks miscalculated interest and excess interest has been charged. When borrower is not able to pay, then they mark it as NPA and his CIBIL score is ruined. But when excess charges are reversed due to human mistake or system mistake, there is no provision for banks to be punished. It happens many times that system bug or human officer entering data in banks banking software system makes mistake and borrower has to suffer for it.

Even if they correct about excessive demand and leading it NPA, the record of the borrower is not corrected.

So please consider some stringent punishment for banks too, making defaults.

Many of the families have become bankrupt due to mistake of bank.

Bank of india and State bank of india has made many mistakes and played cruelly with life of borrower. They treat industrial  borrower as thief and not client. They calculated wrong interest and when borrower couldn't pay it, they reported to cibil.  But the interest calculation was wrong and there was excess interest charges Rs.20 lakhs, which was then reversed, without any apologies. If the excess interest wouldn't have charged, account wouldn't have become NPA and borrower wouldn't have been blacklisted.

Afterwards bank corrected their mistake and reversed charges and interest. But who will reverse the damage to reputation of borrower. 

It took bank of india to reverse excess interest almost 3 years, which is unimaginable delay.

So kindly introduce effective mechanism in the system to have check on the banks misdeeds and severe punishment for miscalculation.

We have come across family who are thrown out on streets by recovery team of the bank, their property was sold to recover dues and afterwards Bank corrected their mistake of calculation and reversed. Meanwhile borrower being respectful person , suffered severe mental agony and lead to heart failure. 

For Bank of India, it was just simple mistake. But borrower family had to loose their members, respect ,property and money. 

Please consider my petition for upgrading and controlling banks misdeeds.

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