[Resolved]  SBI Bank Kanigiri Pin 523230 Prakasm (Dt) Andhrapradesh — Penalty of 84K for eduation loan of 1.85 lakhs taken in year 2004

Hi,

This is Avinash from Kanigiri Prakasm (dt) Andhrapradesh.The consumer forum was very helpful during situation where the people didn't get the justice from various compabies. Hope i will get help from cosumer forum regarding my problem.Here is my problem

I have taken a loan from SBI kangiri Branch in year 2004. The amount was 1.85 Lakhs .They gave the money in 3 installments.They cut some money in every installment for the purpose of interest.My Father Paluri Srinivas was working as a government teacher in Macherla village near Kanigiri.The salary of my father was crdedited to account in same SBI branch.The bank taken his salary certificate as a proof.I think while taking the loan i have asked 2 years period of time from the completion of btech.

I have completed my Btech in june 2007.I have joined in IBM on July 27th 2007.I haven't made any payment for the loan. In january 2009 i got a notice from SBi for the penalty of 84000 rupees.But i'm not at my home. So the post man did't give the notice to at my home. Now they are not giving my fathers salary for the month of february.They asked me to pay the amount of 84k "then they will give my fathers salary".

I was not sure why i need to pay the penalty .
If i need to pay the penalty why i have to pay 84000 of huge amount.
How they caluculate the penalty.I think it was not as per the justice.Please help me out regarding this.So that my family will get my fathers salary.It was pain for my family with out salary.Please help me out.

My Email:[protected]@yahoo.co.in