Jump to content
News Ticker
  • NPAs under PM Modi's Mudra scheme jumped 126% in FY19
  • shows RTI
  • RTI query reveals banking frauds of ₹ 2.05 Trillion reported in the last 11 years
  • 509 per cent rise in cases under child labour law: Study
  • The Central Information Commission has allowed disclosure of file notings on the mercy petition of a rape and murder convict, rejecting the government's contention that the records cannot be disclosed as these are privileged documents under Article 74(2) of the Constitution.
  • Electoral bonds worth over ₹5,800 crore were bought by donors to fund political parties between March 1, 2018 and May 10, 2019, a Right to Information reply has said.
  • Don't pay 500/- for answer sheet now- Supreme Court says if Answer sheet is asked under RTI, RTI Fees will be governed
  • 0
ravindralko

If lonee have paid more than half of the loan principal amount and now due to adverse financial condition is unable to regularise it un willingly then what can do lender. Lonee is daily worker with no regular income

Question

ravindralko

If lonee have paid more than half of the loan principal amount and now due to adverse financial condition is unable to regularise it un willingly then what can do lender. Lonee is daily worker with no regular income

 

 

Sent from my vivo 1804 using RTI INDIA mobile app

 

 

Share this post


Link to post
Share on other sites

2 answers to this question

Recommended Posts

  • 0
ravindralko

If lonee have paid more than half of the loan principal amount and now due to adverse financial condition is unable to regularise it un willingly then what can do lender. Lonee is daily worker with no regular income
 
 
Sent from my vivo 1804 using RTI INDIA mobile app
 
 
Matter is related with CONSUMER DURABLE LOAN

Sent from my vivo 1804 using RTI INDIA mobile app

Share this post


Link to post
Share on other sites
  • 0
Prasad GLN

The lender is not concerned with status and financial position of a borrower.  He should satisfy with given data at the time of sanctioning the loan, and use the laid down process for recovery.  The recovery process may differ from case to case depending on security..  This also involves attaching the salary or properties of Guarantor, confiscating the asset offered as security, using third party recovery agents (mostly goondas that harass the borrower and his family members with threats ).  It is not easy to avail a loan and say that loan can not be repaid.  Above all the credit rating destructs every available credit in future and with that score it is impossible to raise single rupee from any financial institution in future, once the account is branded as default.  A financial institution hears several such stories and they are not simply concerned with those stories and focus on recovery with heavy penal interest.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Answer this question...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


Announcements

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use & Privacy Policy