Legal Question in Banking Law in India
my loan was approx. 19 lakhs under pmegp loan subsidy 25% . Allahabad bank keep app 35 lakhs of orignal land paper and 65 lakhs gurreentee of others and make a blank bond of rs 4000 .is it worng or true bank `s work.
Asked on 12/04/14, 6:41 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
04.12.2014
Dear Sir / Madam,
The Bank retains security and obtains guarantee as per it's policy. You may request the bank to reduce the amount of guarantee which seems to be on the higher side.
Regards,
Answered on 12/04/14, 7:07 am
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