[Resolved] South Indian Bank [Sib] — Regarding excess roi approx 20 p a and heavy renewal charges led to our c/c a/c npa

[email protected]

Jun 22, 2023

Address: SHOP NO.J 1695-1696 RADHA KRISHNA TEXTILE MARKET RING ROAD SURAT

REGARDING EXCESS ROI APPROX 20 P A AND HEAVY RENEWAL CHARGES LED TO OUR C/C A/C NPA

With regard to above Captioned Matter, We are complaining against The South Indian Bank Ring Road Main Branch Surat for debit excess ROI approx. 20% P.A. and Heavy Renewal Charges Debited to Our C/C A/c No.[protected] in name Of Priyankshi Fashions Pvt .Ltd Shop No.J[protected], Radhakrishna Textile Market Ring Road.Surat-395003.

We have Credit Facility for Rs. 14 Cr With your Bank. We attached interest calculation sheet showing ROI Charged By Your Bank and ROI Decided at the Time Of Renewal Time. We have informed recently that your account has Declared as NPA (Non Performing Assest) From 28/04/2023. Our A/c Running Overdue Only By Additional ROI From 9% to 20% and Every Year Your Bank Has Incresed Renewal Charges, This Is the Reason Our A/c Was become NPA.So You Are Requested to Reverse Charges of ROI in Our A/c and We will Regularise this Account.

In this Regard we have made complaint by Letter dtd:14/05/2023 & 29/05/2023

C/C A/C NO:[protected]
MONTH YEAR ROI @9% AS PER ROI @ 17.35% EXCESS CHARGES
MARKET PREVALING BANK HAS CHARGED INTEREST AMOUNT
RATE
MAY[protected] 993599
APR[protected] 951556
MAR[protected] 964674
FEB[protected] 498230
JAN[protected] 397515
DEC[protected] 349767
NOV[protected] 343088
OCT[protected] 288909
SEP[protected] 412779
AUG[protected]-------
JULY[protected]-------
JUNE[protected]--------
MAY[protected]--------
TOTAL 4300117

I have approached branch also and regional office also and meet with regional head Mr. Pramoda for help in this matter. On meeting he assured me for reversal of penal interest and restoring ROI in my account and told me that once it is done you can deposit remaining amount for restoring from NPA
But nothing has been done till date in this matter and there is no reply now from Mr. Pramoda sir.
I have approached surat branch also in this matter but no help has been extended to me.
I request your management committee to lookinto this matter and provide me a solution.

Looking forward for speedy reply as I want to upgrade my account as festival season is approaching

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Jul 5, 2023

Complaint marked as Resolved

ROI Charged By Your Bank and ROI Prevaling in banking Market. We have informed recently that your account has Declared as NPA (Non Performing Assest) From 28/04/2023. Our A/c Running Overdue Only By Additional ROI From 9% to 20% and Every Year Your Bank Has Incresed Renewal Charges, This Is the Reason Our A/c Was become NPA.So You Are Requested to Reverse Charges of ROI in Our A/c and We will Regularise this Account. In this Regard we have made complaint by Letter dtd:14/05/2023 & 29/05/2023 I have approached branch also and regional office also and meet with regional head Mr. Pramoda for help in this matter. On meeting he assured me for reversal of penal interest and restoring ROI in my account and told me that once it is done you can deposit remaining amount for restoring from NPA But nothing has been done till date in this matter and there is no reply now from Mr. Pramoda sir. I have approached surat branch also in this matter but no help has been extended to me. I request your management committee to lookinto this matter and provide me a solution.Looking forward for speedy reply as I want to upgrade my account as festival season is approaching

South Indian Bank [SIB] customer support has been notified about the posted complaint.

Jul 05, 2023

Updated by [email protected] there is no reply