This is a fascinating story. Of one brave man who fought a battle with a bank. One day it will happen in India also. And the most likely banks that will face this battle would be one of the newgen private banks.

https://newrepublic.com/article/134722/foreclosure-sleuth

This story happens in every bank here. Each bank cheats us of a few rupees here and there. Housing loan plus insurance is a potent evil that gives perennial bonuses to banksters.

My only fear is that we will not have a legal system that will understand the shenanigans that the bankers indulge in. I hope to see a day when one of the banks get roasted in a courtroom.

In the meanwhile, keep checking bank statements and financial transactions. At this very moment, there are many bankers out there who are dipping in to some of your money and pocketing it. In ninety percent plus of the cases, you will not know or fight. Of the remaining, another ninety percent may know, but will not fight.

 

 

 

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6 thoughts on “One man vs a Bank

  1. Dear Sir,

    You rightly pointed out the things. I have housing loan plus insurance from SBI bank since last three years. Also my salary account with SBI. My EMI getting deducted regularly. But in last MAY 2016, SBI deducted penalty of 284rs for not paying insurance EMI of 400Rs. Then again same thing happen in JUNE 2016, they deducted again 284.50RS. Finally I contacted SBI Branch manager, He told me that money will be refunded in next one week as it was happen due to some technical error. But SBI branch manager make me run for 1 month and my money did not refunded. I visit branch manager 4 times to get my money back. In my last visit SBI branch manager shouted on me and asked me to stop using SBI service.

    Finally I wrote and email to SBI Chairman, SBI Chairman customer. But chances are looking very less.

    Unfortunate part was not 568Rs. which was deducted but Branch manager’s attitude and behavior.

    Regards,
    Alpesh Patel

    Like

  2. By being a shareholder (at a bargain prices only) is perhaps the way of getting even with these banks . . . 25% ROE, year or year for years together just doesn’t happen without a little bit of chori here or makkarri there.

    Like

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