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Prime Borrower - Central Office OTS Scheme
2 years ago
Central Office OTS Scheme can the Branch Managers/ Asset Recovery Chief manager can reject with out giving reasons.
A.Dear Sir,
You may lodge compliant with banking ombudsman or approach High Court to redress your grievance. Normally bank manager cannot over rule instructions from his central office.
You may lodge compliant with banking ombudsman or approach High Court to redress your grievance. Normally bank manager cannot over rule instructions from his central office.
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A.Dear Client
As per the facts which have been provided, it is for the bank to decide if they have to extend this facility to the borrower or not. In case the bank holds the borrower’s security/assets and is sure to recover both the principal and interest in full, they may reject the borrower’s plea for OTS. Conversely, when the assets or prime security is inadequate, they may choose to grant a one-time settlement.
Hope this clarifies your query and requirement.
Thank you.
As per the facts which have been provided, it is for the bank to decide if they have to extend this facility to the borrower or not. In case the bank holds the borrower’s security/assets and is sure to recover both the principal and interest in full, they may reject the borrower’s plea for OTS. Conversely, when the assets or prime security is inadequate, they may choose to grant a one-time settlement.
Hope this clarifies your query and requirement.
Thank you.
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