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The Economic Times

Economy / The Economic Times

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BoB system error inflates EMIs, hits borrower scores

Bank of Baroda, said multiple people ET spoke with, charged a higher interest rate by mistake, leading to the deduction of an amount exceeding the scheduled equated monthly instalment (EMI). Alternatively, the bank charged less interest in some cases than it ought to have, its spokesperson said.

24 Mar 2026 12:58 am