Bank Loan KCC - My grandfather
1 year ago
My grandfather took loan of 10 lakh as Kisan credit card from Sarv UP gramin bank. After one year of his demise while transferring the documents in the name of my father we came to know about this loan. The loan amount now reached to 15 lakh, Now bank says the account is becoming NPA in 3-4 days and we are not able to pay the loan right now. What actions bank may take ,Can we get any rebate .
What are the legal options for us
A.Dear Sir,
Your property is under danger. The Bank can approach Arbitrator mostly the District Collector and get award/decree against your property and get auction your property in public and a realize its claim you may take appropriate steps to settle the loan.
Your property is under danger. The Bank can approach Arbitrator mostly the District Collector and get award/decree against your property and get auction your property in public and a realize its claim you may take appropriate steps to settle the loan.
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A.Dear client, in my humble suggestion, if you have taken a loan, it is your duty to repay. In case of default, if you have a fixed deposit or savings account with a bank, the bank may use your accounts to recover debts in this case. However, you may contact the banking ombudsman under the appropriate RBI structure in the event of harassment or coercion by the bank or recovery agents.
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