Legal Question in Banking Law in India

I had applied for a personal loan in State Bank of India. I have been denied a personal loan for which otherwise I am eligible. I have been told that I won't be granted a loan for which i am otherwise eligible. Can i seek redress in a consumer forum ? Can i move court over this ?


Asked on 11/09/10, 6:24 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Normally a financial transaction is within discretion of the lender as they need to take an informed decision about the risks involved in lending. Mere eligibility may not be sufficient UNLESS it is a special scheme made for general public or a group of people. Therefore, it may not be safe to give you any advice on the given facts.

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Answered on 11/09/10, 6:47 am


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