Legal Question in Banking Law in India
can one party take a loan against a deposit with a mandate of either or survivor
Asked on 3/23/11, 4:43 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The Bank will require both parties to pledge the deposit. It will not allow one party alone even on either or survivor deposit to take a loan without the consent of the other
Answered on 3/23/11, 1:24 pm
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