banking law

govind (Querist) 13 September 2008 This query is : Resolved
whether cooperative banks can acquire the debts from other commercial banks and can proceed fOR recovery under the RDDBFI ACT 1963 AND SARFAESI act 2002

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Murali Krishna (Expert) 14 September 2008
I understood that this amounts to purchase of debts from other commercial banks. Once such purchase is made, I feel that these banks will be in a position to enforce their rights. You can also say that this is a kind of assignment of rights.

Manish Singh (Expert) 15 September 2008
coperative banks shakll have to take license and permission from the RBI first to go ahead in this direction.

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