LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sushil Kumar Bhatia (Advocate)     25 October 2008

waiver of bank loan

I have some cases of recovery of loan defending the case on behalf of borrowers any body has knowledge of recent notification either of finance ministry or RBI regasrding waiver of loans upto Rs one lac kindly give me details.


Learning

 2 Replies

Rajan Salvi (Lawyer)     26 October 2008

Recently I had been to a Bnk of India for settling a loan of Rs 25,000/- . A few instalments were paid. The interest had accumalated to around 15,000/-. Thye Bank manager was co-operative . I asked him if there is waiver of amount if OTS scheme [ One time settlement Scheme ] is followed.


He stated that he in his capacity as Manager of the bank can personally can waive off one fouth of the interest. I was asking for  waiving more amount. He stated you deposit 5000/- to show bonafides and write a letter to me requesting waiver and the grounds.


My query is are there any RBI guidelines for waiving off small loans especially for widows? 

N.K.Assumi (Advocate)     27 October 2008

The only waiver I know of is the farmers loan. Recently Government of India has passed a budget of Rs.15 thousand crore to waive farmers loan.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register