Banking

rathish kumar (Querist) 21 June 2016 This query is : Resolved
when the banks were charging processing fees for cash credit accounts. whether on
01.after lapse of 12 months
02.at the time of renewal
03. can we assume that if the processing fee is debited then my account is renewed

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R.K Nanda (Expert) 21 June 2016
Ask from concerned bank officials.

Guest (Expert) 21 June 2016
Not a legal issue! You may better enquire from your nearest bank branch.

Devajyoti Barman (Expert) 21 June 2016
see RBI Circular on this.

Rajendra K Goyal (Expert) 22 June 2016
After charging processing fees, there is no confirmation that your account is renewed.

Some Banks charge renewal charges after 12 months and provisionally review the account in absence of renewal data from customer.

Please mention full facts of the case.

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