Bank my gold loan not renewed reason my brother loan pending
7 months ago
At the outset we sincerely regret the inconvenience caused to you.
We understand that our Branch official Mr. ****** has contacted you on mobile number registered with the bank and informed you that while renewing the gold loan your brother's overdue loans is showing in system as a family exposure due to which renewal of gold loan cannot be processed.
As per credit team, (Applicant & your brother staying on same address & sharing same mobile no) and Credit team is rejecting the case due to family exposure which is in NPA stage.
The Collection manager also informed you to prepare the Power of Attorney and close the gold loan but you said you are in outside country and will not be coming back to India and your gold loan is in NPA stage and if not closed bank will proceed with further course of action as per the terms and conditions.
You may also contact our official Mr. ****** on ******** for further assistance.
The Reference Number for your e-mail interaction is ********
Assuring you of our best services.
In line with our focus and commitment to Customer Service, we trust the issue has been resolved to your satisfaction.
----‐--‐-‐-------------------
I have a gold loan from HDFC Bank. that is matured.
I am staying in another country. So, I am not recheble to my HDFC bank account branch. So I requested kindly renew again. Bank said any one need to sign in the branch. My father went and all the documents signed.
Then, the HDFC bank is given the above reply.
I am not signed anywhere as garanter to my brother cards and loans
This reply is as per bank rule, correct or not
If I pay only my gold loan, then my gold will return to me or not
Based on the response you received from HDFC Bank, it appears that the bank is not willing to renew your gold loan due to a perceived "family exposure" issue, as your brother has overdue loans with the bank. Here are some key points to consider:
Family Exposure: In the context of banking and lending, "family exposure" typically refers to the total financial exposure of a family or individuals living at the same address and sharing financial obligations. If one member of a family has overdue loans or a negative credit history with the bank, it can impact the creditworthiness of other family members, including you, if you are considered part of the same family exposure group.
Power of Attorney: The bank has suggested that you prepare a Power of Attorney (POA) to close the gold loan. A POA allows someone else to act on your behalf. In this case, it seems your father may have signed the documents on your behalf.
Loan Closure: If the bank is not willing to renew the gold loan due to the family exposure issue, it may be challenging to proceed with the renewal unless the issue with your brother's loans is resolved or unless you provide additional collateral or guarantees.
Return of Gold: If you decide not to renew the gold loan and it remains unpaid, the bank may proceed with the terms and conditions of the loan agreement. In many cases, this could involve the bank auctioning the gold to recover the loan amount. The bank should provide you with specific information on the steps they will take if the loan is not repaid.
Clarification with the Bank: If you have concerns or questions about the bank's decision, it's advisable to communicate directly with the bank's customer service or the branch where the gold loan was taken. Seek clarification on their policy regarding family exposure and loan renewal.
Legal Advice: If you believe the bank's decision is unjust or you have concerns about the handling of your gold loan, consider seeking legal advice from a qualified attorney who specializes in banking and finance matters. They can provide guidance based on the specific terms of your loan agreement and the laws in your jurisdiction.
Ultimately, the specific terms and conditions of your gold loan agreement, as well as the bank's internal policies, will dictate how the situation is handled.
Thank you.
Exposure refers to the total amount of unsecured loans, it also describes the total amount of loans granted to a single borrower, group, industry, or country plus the risk of loss due to NPA, devaluation, revaluation, or foreign exchange fluctuations ec. Family exposure is system-generated data showing the status of a loan of members' account holders of the family available on the basis of KYC details. But when you are not related to a loan taken by your brother, your gold loan maturity should not be withheld for the default of your brother. So, in the prevailing situation, you need to file a written complaint first to the concerned Bank, and in no positive response is received from their end, then, a complaint under the RBI integrated Ombudsman scheme, 2021. shall be made online on the portal (https://cms.rbi.org.in). The complaint is to be made to the Ombudsman within one year after the complainant has received the reply from the concerned Bank to the complaint or, where no reply is received, within one year and 30 days from the date of the complaint. A complaint may be lodged online or by filing a physical complaint and submitting the same at the Centralised Receipt and Processing Centre (CRPC) at RBI, 4th Floor, Sector 17, Chandigarh, 160017. You may also serve a legal notice to the Bank on the subject. Reach out to an Advocate for further guidance and steps.
Online job fraud
Loan
Compassionate appointment
Education Loan OTS
Sbi account put on stop by cyber security
