Comment on Member of co-operative society is Consumer by Girish K.G..

whether a member of a co-operative society can complain to the district consumer forum against the payment of interest and penal interest charged on irregular emi and default of loan repayment

Recent Comments by Girish K.G.

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dear sir, is there separate rate of interest for agriculture loan apart from commercial loans in banks. Whether the bank can charge commercial loan interest on agriculture loan or bank can charge less interest. RBI guidelines are needed on this matter. please guide me. As my loan is burden on me because interest exceeded principal in 8 years, Being Agricultural loan having yearly installments, bank has compounded interest along with penal interest at half yearly rest.

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I have obtained agricultural loan from Canara bank on yearly instalment basis. But bank had compounded interest on half yearly rest along with penalty interst. Though instalment becomes due on yearly rest is it allowed half yearly compounding of both interest and penal interest. What can I do to get justice?

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