Legal Question in Banking Law in India
can a bank recover higher education loan amounts being overdue, without giving calculations as to how arrived at the recovery figure ? is the bank not supposed to clarify the recovery amounts claimed by the bank ? kindly clarify giving citations.
thanks
Asked on 7/22/09, 10:24 pm
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
As per the bank's code of conduct the bank is bound to give account statement and also explain as to how the amount is arrived at. You can demand for the same.
Answered on 7/22/09, 10:34 pm
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