Legal Question in Banking Law in India
If borrower is not providing BC letter to bank,what to do in that case ?
Asked on 10/19/16, 6:54 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
21.10.2016
Dear Sir / Madam,
A bank confirmation letter (BCL) is a letter from a bank or another financial institution confirming the existence of a loan or a line of credit that has been extended to a borrower.
A Bank Confirmation (BC) letter is issued by the Bank and not by the borrower to the Bank.
Regards,
Answered on 10/19/16, 7:12 am
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