Co-op bank & power to remove 2% prepayment
pooja dedhia
(Querist) 06 August 2012
This query is : Resolved
what are the ways co-operative bank & nationalized bank are different in their e operative activity and power utilised by them?
under which acts they are operating & control?
how rbi makes them regulating and imposition of rules ?
can co-operative bank has liberty to remove the prepayment penalty of 2% in letter of sanction draft when there is prepayment of loan?
how co-operative bank consider and has power to remove this clause from the sanctioning of term loan?
if clent apply for the same to remove the above said 2% penalty clause, can the application is entertained by the co-operative bank?
is their laws allow to do?
girish shringi
(Expert) 06 August 2012
Its the matter of internal administration of the Bank.which differs,bank to bank and in Co-op. Bank if A/A permits the BOD,they can do the same.
