Legal Question in Banking Law in India

Respected Sir,

My name is Srikanth Bandaru S/o. B.Maheshwar (late). My father was an Account holder in SBI Parishram bhavan, Hyderabad. My father took a loan from SBI, parishram bhavan. After his death my mother is getting a pension. After 4months of taking a loan my father expired. I and my mother was not aware of that . My mother signed as a guarantor. But she doesn�t know for what she is signing. I went to the bank to inform and submit the Death certificate and for other process done by the bank after the death of the customer. I asked to open a new A/c in my mothers name for pension. I took rounds for 3 months but manager didn�t responded. But, only one word I was said that to open a new A/c in other bank near the house. I was fed up taking rounds of the bank and stop visiting the bank. After 1 year we got a notice that my father has to pay the loan amount. �What they were doing when I was taking a rounds of the bank?� We took money from others on interest for my sister�s marriage. And my mother�s pension is going to that person and my salary for chits. Even in this critical problem I paid 30,000/-approx(in closed A/c of my father). Now we have no money to pay. If the bank sent us a notice within a 2months after my father expired, I would have done something.

COMPLETE MISTAKE IS FROM BANK AND GIVING US A TROUBLE. Please suggest me about this issue and help me out.

I will be waiting for your answer eagerly.

Thanking you,

Srikanth Bandaru.

1 Answer from Attorneys

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