Calculation of int on term deposit
Reserve Bank of India
Date: December 2, 2015
Ajantha urban co.op. Bank (H.o.Aurangabad) Br Osmanpura paid me int on term deposits by calculating int on simple basis, And not by calculating interest on quarterly compounding basis.so i suferred a great loss on 3 Deposits' Int.Facts:
1)not mentioned on term deposit that int payable is on simple basis.
2) Bef
ore making deposits branch did not give information that int will be paid on simple basis.
i have to submit grievances in black & White.please provide RBI Nagpur office.
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