Sir
If we have four borrowers in a kcc loan in which all three are signing the loan documents and one is illiterate thumb impressions.
The operation of loan account will be….
The cheque leaf signed by the illeterate person can not be paid through clearing. Such personally visit the bank and thumb imression on the cheque obtained in the presence of Supervisory staff of the bank to pass the same. Under the circumstance banks do not open current account for illeterate persons.
Sir,
there is an issue with my loan take over from the current bank and the new lending bank. The current bank says that they will hand over the documents to the applicant in the presence of the banker at the time of settlement but the new lending bank says that the current bank should give an undertaking that they will handover the documents to the new lending bank in the presence of the applicant. Both of them have their own rules. Kindly give me a solution.
What is the problem? The new bank has to give a letter to the existing bank that they are taking over the loan of a particular person. The present banker has to give it in writing that they would hand over the title deed documents to the bank which is taking over the loan only after full settlement of their advance. This is a normal process.
Sir
If we have four borrowers in a kcc loan in which all three are signing the loan documents and one is illiterate thumb impressions.
The operation of loan account will be….
The cheque leaf signed by the illeterate person can not be paid through clearing. Such personally visit the bank and thumb imression on the cheque obtained in the presence of Supervisory staff of the bank to pass the same. Under the circumstance banks do not open current account for illeterate persons.
Sir,
there is an issue with my loan take over from the current bank and the new lending bank. The current bank says that they will hand over the documents to the applicant in the presence of the banker at the time of settlement but the new lending bank says that the current bank should give an undertaking that they will handover the documents to the new lending bank in the presence of the applicant. Both of them have their own rules. Kindly give me a solution.
What is the problem? The new bank has to give a letter to the existing bank that they are taking over the loan of a particular person. The present banker has to give it in writing that they would hand over the title deed documents to the bank which is taking over the loan only after full settlement of their advance. This is a normal process.