Bank Loan
5 years ago
A private bank has approved me a loan of Rs. 217000 without my consent. And now the bank is taking EMI of Rs.9066 . Can I take any legal action against bank?
VIMAL K MISHRA
Responded 5 years ago
A.Contact Vidhikarya for help.
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Ambrose Leo
Responded 5 years ago
A.No,better to stop the EMI and obtain the refund from the Bank.
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A.Strange is your question, have you not taken the amount from teh Bank? How they are collecting EMI , who is paying them ? If you have not recieved teh amount, don`t pay to them, and if you have not consented to the loan, what is the meaning of that Bank having 'approved ' it ? And you are talkIng of taking action aginst Bank after paying ENI ?
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ROBERT D ROZARIO
Responded 5 years ago
A.Serve a legal notice through an advocate from Vidhikarya.
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Anand Shukla Legal Practitioner,Legal Consultant & Advisor
Responded 5 years ago
A.First you all you should demand from the bank the loaning documents . After careful scrutiny you can issue a legal notice and take action as per guidelines of RBI
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Deepak Yashwantrao Bade
Responded 5 years ago
A.Hallo sir, before taking legal action some points need to be clarify. there are strict regulations given by RBI to all banks and finance company for grant or approval of loan such as -
Loan application
Discussion with the lender
Background verification by the bank
Signing in of necessary documents
Loan sanctioning and disbursement
And lastly consent of lender.
Approval of a Loan
The time taken for approval of a personal loan depends on the authenticity of the information provided by you. On approval, borrowers may either be offered a fixed rate of interest on the loans or a floating rate.For the bank to approve loan request, you will have to submit the following documents:-
Bank statement
Identity proof and address proof
Salary statement
Income tax statement.
If there is any issues or complaints regarding such bank Kindly contact with bank authority.or you can complaint to RBI banking omdusman authority.
Loan application
Discussion with the lender
Background verification by the bank
Signing in of necessary documents
Loan sanctioning and disbursement
And lastly consent of lender.
Approval of a Loan
The time taken for approval of a personal loan depends on the authenticity of the information provided by you. On approval, borrowers may either be offered a fixed rate of interest on the loans or a floating rate.For the bank to approve loan request, you will have to submit the following documents:-
Bank statement
Identity proof and address proof
Salary statement
Income tax statement.
If there is any issues or complaints regarding such bank Kindly contact with bank authority.or you can complaint to RBI banking omdusman authority.
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Namitabh Kothari
Responded 5 years ago
A.It is so shocking that Bank is taking EMI without you applying for the loan.
You will have to immediately send Legal Notice through the Advocate to the Bank and also them to stop the EMI immediately.
You will have to immediately send Legal Notice through the Advocate to the Bank and also them to stop the EMI immediately.
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A.Dear Sir,
You can get issue a legal notice and get close the said account and also claim damages. Such things being happening in banking field.
You can get issue a legal notice and get close the said account and also claim damages. Such things being happening in banking field.
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