Note on why bank have to pay 5 Year and 50% Benefit

[Prasad C N]

Dear friends,

A note on why Banks have to pay both 5 Years (Regulation 29(5)) and 50% pay benefits.  Please you can make use of the information provided.

 

Thanks, a Million.

With regards,
Prasad C N

[Sumati M]

Dear Mr.Prasad

Thank you for clearing the air by putting everything in a concise manner with due attachemts also.

May be we should fight for some kind of punitive action by theRBI/ government/court which will really pinch the banks and force their hand to pay our rightful dues.

Interest or penalty should be directly recovered from the Bank by the RBI in the form of some statutory rate.

Regards

Sumati

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SUMATI M