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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2018 i have taken a KCC from BOB two years ago and not paid any interest till date . today received call from manager of bank that you will be charged interest @15% in year 2 and penalty also to be levied. what i should do have no money to repay loan now they asking for full repayment. interst @ 15% is justified or not tell me?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 August 2018 The bank is justified in asking repayment of loan availed with interest and penalties for late payment.
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