Respected Sir,
I am an ex banker worked in a nationalised bank for 31 years but dismissed from the services of the bank in May 2009 after keeping me under suspension for 2 years due to a conspiracy by Officers Union in connivance with Bank's higher authorities for exposing thier unhealthy and illegal business practices to bring high value term deposits from Government institutions.At the time of dismissal my age was 54 now I am aged 70 with multiple health issues and partially handicapped due to an accident.While in service I had availed housing loan of Rs.5.00 lakhs in the year 2000, Overdraft facility of Rs.3.50 lakhs in 2002 and Two wheeler loan of Rs.0.34 lakhs in 2006 at concessional rate of interest as available to Bank employees.Bank took action under SARFEASI act in 2013 , took symbolic position of my Flat and attempted to auction the Flat. As per auction notice in leading news papers, reserve price was fixed at Rs.11.50 lakhs but there was only one bid which was below the reserve price. hence auction process was cancelled.Same year my Provident Fund was settled for Rs.3.00 lakhs in June 2013 while Gratuity and other benefits were forfieted for the reason 'MORAL TURPITUDE' Bank had credited Rs.3.00 lakhs to my housing loan account in June 2013 and remaining amount of Rs.2.50 lakhs was paid by me.But Bank has reversed Rs.3.00 lakhs from my Housing loan account on 31.12.2013 to my overdraft account thereby my housing loan account remained outstanding.I have asked the bank several times for One time settlement facility which was rejected by the bank stating that ex employees of the bank are not eligible for OTS facility.As per housing loan sanction stipulations, I was required to repay the principal loan in 80 installments and interest accrued on housing loan in 27 months.In other words there is no interest chargeable on interest accrued interest. Entire principal amount was cleared in 2013 and only interest accrued on housing loan was outstanding.From 2013 onwards, bank started charging interest on interest accrued account at compounded rate and at the end of July 2021 outstanding housing loan was showing Rs.5.43 lakhs .When I complained to Grievances Cell of the bank, interest on housing loan was recalculated by the bank as a result it was found by the bank that interest of Rs.3.07 lakhs is excess charged by the bank, based on this I have repaid remaining balance but now bank has come out with a new theory that concessional rate of interest available to Bank employees cannot be extended to me as I am a dismissed employee and interest rate will be as applicable to general public and now asking me to repay Rs.11.84 lakhs based on revised interest as applicable to general public with monthly rests
