Even if the bank does not pay the loan money, the borrower gets 5 rights
you have taken a loan from a bank, and even if you can not pay it, the bank employee can not do bad to you. The government has given some rights to the lender also. The rule ranges from giving auctioned property to the auctioning of the notice till the notice is given. If someone breaks it then they can be prosecuted. Today we are giving you similar rules.
Right to notice
If you can not pay a loan, the bank can not make you a direct criminal. The bank has to follow the Processor Processors to get the remaining amount. If the general payment remains dual for 90 days, then the borrower would put the bank in a non-performing asset (NPF). In this case, the lender has to issue a notice with a period of 60 days. It is necessary for any defaulter to spend so much time. If this notice is still being paid to Boreer Bank after the notice, then the bank can sell its assets.However, the bank has to issue a public notice even before the property sale. It should be given 30 days in advance.
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Right to the Fair Value
If a condition that can not be paid by a borrower is done then its property is levied.Assets are auctioned to clear Bank Dues.However, it is necessary that the bank should issue a borrower notice before doing so. It gives information about the value of the asset which exits the bank. There are also information like reserve pricing, auction date and time. If the borrower thinks that the property is being auctioned at least, it can take the objection. She can justify her story by bringing good offers. And can make the decision change to the bank. In such a Situation, a person related to a bank, except for a bank, should own a property deal. So it can be a good deal.