Legal Question in Banking Law in India
is debiting the saving/loan account of a customer as per his telephonic instructions is legal
Asked on 6/05/13, 10:41 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
06.06.2013
Dear Sir / Madam,
The bank has to regularize the transaction with the written consent of the customer.
Regards,
Answered on 6/06/13, 5:32 am
J. Radhakrishnan
independent Practice
No, unless followed by debit advise signed by him
Answered on 6/06/13, 10:10 am
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