Legal Question in Banking Law in India
I have given guarantee for education loan of Rs.1,00,000/- to my brother's son in Allahabad Bank. I have endorced my medical linked policy of Rs. 50000/- in favour of allahabad bank. Now 4 years passed and need money for treatment of my wife. Can I request bank that I want to withdraw guarantee before repayment of education loan.
Asked on 12/26/10, 12:57 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
You cannot withdraw from the guarantee you have furnished.
Answered on 12/27/10, 2:08 am
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