Bank Loan
5 years ago
A private bank has approved me a loan of Rs. 217000 without my consent. And now the bank is taking EMI of Rs.9066 . Can I take any legal action against bank?
Ambrose Leo
Responded 5 years ago
A.No,better to stop the EMI and obtain the refund from the Bank.
Helpful
Helpful
Share
A.Strange is your question, have you not taken the amount from teh Bank? How they are collecting EMI , who is paying them ? If you have not recieved teh amount, don`t pay to them, and if you have not consented to the loan, what is the meaning of that Bank having 'approved ' it ? And you are talkIng of taking action aginst Bank after paying ENI ?
Helpful
Helpful
Share
ROBERT D ROZARIO
Responded 5 years ago
A.Serve a legal notice through an advocate from Vidhikarya.
Helpful
Helpful
Share
Anand Shukla Legal Practitioner,Legal Consultant & Advisor
Responded 5 years ago
A.First you all you should demand from the bank the loaning documents . After careful scrutiny you can issue a legal notice and take action as per guidelines of RBI
Helpful
Helpful
Share
Deepak Yashwantrao Bade
Responded 5 years ago
A.Hallo sir, before taking legal action some points need to be clarify. there are strict regulations given by RBI to all banks and finance company for grant or approval of loan such as -
Loan application
Discussion with the lender
Background verification by the bank
Signing in of necessary documents
Loan sanctioning and disbursement
And lastly consent of lender.
Approval of a Loan
The time taken for approval of a personal loan depends on the authenticity of the information provided by you. On approval, borrowers may either be offered a fixed rate of interest on the loans or a floating rate.For the bank to approve loan request, you will have to submit the following documents:-
Bank statement
Identity proof and address proof
Salary statement
Income tax statement.
If there is any issues or complaints regarding such bank Kindly contact with bank authority.or you can complaint to RBI banking omdusman authority.
Loan application
Discussion with the lender
Background verification by the bank
Signing in of necessary documents
Loan sanctioning and disbursement
And lastly consent of lender.
Approval of a Loan
The time taken for approval of a personal loan depends on the authenticity of the information provided by you. On approval, borrowers may either be offered a fixed rate of interest on the loans or a floating rate.For the bank to approve loan request, you will have to submit the following documents:-
Bank statement
Identity proof and address proof
Salary statement
Income tax statement.
If there is any issues or complaints regarding such bank Kindly contact with bank authority.or you can complaint to RBI banking omdusman authority.
Helpful
Helpful
Share
Namitabh Kothari
Responded 5 years ago
A.It is so shocking that Bank is taking EMI without you applying for the loan.
You will have to immediately send Legal Notice through the Advocate to the Bank and also them to stop the EMI immediately.
You will have to immediately send Legal Notice through the Advocate to the Bank and also them to stop the EMI immediately.
Helpful
Helpful
Share
A.Dear Sir,
You can get issue a legal notice and get close the said account and also claim damages. Such things being happening in banking field.
You can get issue a legal notice and get close the said account and also claim damages. Such things being happening in banking field.
Helpful
Helpful
Share
Read Related Answers
Online job fraud
Dear Client,
Please register a complaint with cyber security for online fraud and scam. Complaints can be reported through helpline number 1930 or on National Cybercrime Reporting Portal. Or you can a...
Loan
Dear Client,
A co-applicant/borrower is equally liable for repayment of the debt if the principal Borrower fails to repay it and if after exercising all the steps for recovery of debt against the Bor...
Compassionate appointment
Dear Client,
The SBI rules can not be breached. it could be the policy of the bank to not hire anyone. Please check with the rules and guidelines for heiring employees
Education Loan OTS
Dear Client,
Try to go to the online portal of the said bank and complaint about grievance through the same. it is advisable to repay the loan amount within the stipulated time or you may face seizur...
Sbi account put on stop by cyber security
Dear Sir/Madam,
Under the following provisions the Hon’ble Magistrate Court having ample powers to unfreeze the Bank accounts. Further, the Hon’ble Court has vast powers to hand over the properties/v...
Read Blogs on Banking
Banking Lawyers
Find Lawyers by Location