Legal Question in Banking Law in India
My brother was a central gov employee. He took a personal loan from sbi with his salary details. He died before one year. After his death the loan repayment is pending. Now the bank authority is send a letter to his parents for to close the personal loan. The parents is not a surety of the loan. Also the told in tr the notice if the parents fails to repayment they take necessary legal action....my question is .. action of the bank is true
Asked on 10/04/16, 7:54 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
11.10.2016
Dear Sir / Madam.
The Bank can pursue for recovery of the loan from the dues owed to the deceased employee.
Regards,
Answered on 10/10/16, 8:59 pm
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