Revision of Housing Loan qualifying Limits for Priority Sector Lending
The following post offers you comprehensive details of all aspects of home loans:
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How banks enforce money suit while document is time-barred?
[Banks have many other ways to find out whether they can still enforce the recovery suits against the defaulter where period of limitation has already been expired.] The life of a loan document (DPN) is three years. Once the document is time-barred then the bank will not be able to enforce money suit to recover…
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What is a revival letter for bank loan?
According to Section 2 (j) of the Limitation Act, 1963, the life of a loan document (DPN) is three years. Once the original Demand Promissory Note (DPN) is expired then the bank will not be able to enforce money suit to recover its due through Court of Law. If the loan is secured by the…
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What is the remedy to revive time-barred debt?
Any contract that is executed by an executant without for any consideration is void in the eyes of law. As per section 25 (3) of the Contract Act, a fresh promise made for repaying the time barred debt is a valid consideration and the same is enforceable in a court of law. Therefore, it is…
Read article Resolution of Stressed Assets: RBI scraps all existing debt restructuring schemes
The Reserve Bank of India on Monday (12.02.2018) scrapped all existing frameworks for revitalizing distressed assets such as Corporate Debt Restructuring (CDR) scheme , Flexible restructuring of long-term project loans(5/25) scheme, Strategic Debt Restructuring (SDR) scheme, Scheme for Sustainable Structuring of Stressed Assets(S4A). The Joint Lendes’ Foroum (JLF) as an institutional mechanism for resolution of…
NPA classification: Temporary relief to MSME borrowers
The Reserve Bank of India on Febraury 7, 2018 vide its circular DBR.No.BP.BC.100/21.04.048/2017-18, given an instrucion to banks and NBFCs not to down grade the asset classification of accounts of MSME borrowers where the borrower’s account was standard as on August 31, 2017.The accounts shall be treated as standard accounts if the borrower unit is…
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