I had a FD in an Indian Bank. I told the bank to close my FD. While previously, whenever I closed my FD, my bank statement showed the transaction remark as Closure Proceeds but on this transaction, it shows remark Repayment credit. I inquired with the bank about this issue but they insist that the issue is not serious, that the remark is system generated.
My knowledge is that the remark Repayment credit is used only when a loan is created. I am quite concerned about this. Can anyone please explain me what Repayment credit is, as I think something fishy is going on.
