NOC legal help
Anuj Saikia
(Querist) 24 October 2016
This query is : Resolved
I am an employee of a bank. But I want to take home loan from other bank.. For this purpose, I have to submit NOC certificate from my employer. If the employer refuses to give NOC then can I take legal help?
Anuj Saikia
(Querist) 24 October 2016
I am an employee of a bank. But I want to take home loan from other bank.. For this purpose, I have to submit NOC certificate from my employer. If the employer refuses to give NOC then can I take legal help?
Guest
(Expert) 25 October 2016
VAGUE QUERY!
When you have not applied for NOC, what is the relevance of asking this question. Ask only if & when you apply for and refused NOC.
Kumar Doab
(Expert) 25 October 2016
You have explained your query.
If your rights are infringed upon by anyone in any manner, you have the right to seek legal help.
Guest
(Expert) 25 October 2016
Read the CDA Rules of your bank and you will find your answer. Moreover, you don't have any rightful claim for NOC, so question of infringement of right does not arise.
Rajendra K Goyal
(Expert) 25 October 2016
Bank does not allow private borrowings / other borrowings. You can not borrow without Bank permission.
What is the reason you do not want to take loan from your own Bank?
Kuummaar AS
(Expert) 25 October 2016
Anuj Saikia,
YOUR QUERY IS
QUOTE
I am an employee of a bank. But I want to take home loan from other bank.. For this purpose, I have to submit NOC certificate from my employer. If the employer refuses to give NOC then can I take legal help?
UNQUOTE
WHY WILL YOUR BANK REFUSE NOC UNLESS SOMETHING ELSE IS THERE? PLEASE COME OUT WITH YOUR APPREHENSION CLEARLY.
Kumar Doab
(Expert) 25 October 2016
If your rights are infringed upon by anyone in any manner, you have the right to seek legal help.
Pointers to bank rules has been posted.
Look at:
Bank of Baroda Officer Employees (Conduct) Regulations, 1976
Provided further that an officer employee may obtain a loan from a co-operative credit society of which he is a member or stand as a surety in respect of a loan taken by another member from a cooperative credit society of which he is a member.
http://www.bankofbaroda.co.in/download/Rules/BOB_OFFICER_EMPLOYEES__CONDUCT__REGULATIONS_1976.pdf
Rajendra K Goyal
(Expert) 25 October 2016
Generally Banks does not allow private borrowing / outside borrowings by their employees so that they may not be overburdened in loan taken by them.
Most of Banks have designed authority structure to grant such permission / NOC.
Kumar Doab
(Expert) 25 October 2016
Dear Mr. Goyal,
This is true for even staff loan.
Repayment capacity is to be checked for any borrower.
After all banks are custodian of public money.
Even a bank employee can be bad borrower.
Kumar Doab
(Expert) 25 October 2016
Conditions: The official should not have any house loan outstanding at the time of sanction under Staff Housing Loan; except in case of i) Takeover of liability from other Bank/FI
Rajendra K Goyal
(Expert) 25 October 2016
Expert Kumar Doab ji,
Banks have their own policy for loan to staff under various category / facilities / purposes providing facility under large no. of schemes / products. Banks have specified strict rules to be followed for staff loan, while facility to interest concession is given for staff.
Banks give NOC only to get loan from other institutions only if need is assessed and limitation of loan under staff facility.
Kumar Doab
(Expert) 25 October 2016
Expert Rajendra K Goyal ji,
Agreed with you.
Employer has its policy for loan to staff.
Guest
(Expert) 25 October 2016
I may pinpoint in short, the bank is neither obliged to give NOC for any loan to its employee, nor will give. Even if you take legal help, that will be futile on your part, as you cannot legally compel your employer to give you NOC for a loan.
Rajendra K Goyal
(Expert) 25 October 2016
In the present context agree with conclusion from expert P. S. DHINGRA, which is in accordance of service rules of bank employees in general, any ruling against this has not come in my knowledge.
Kumar Doab
(Expert) 25 October 2016
If Bank (employer) has framed extent rules prohibiting home loan from any other lender then it has to justify and subject to conditions.
Some conditions have been posted.
It is sincerely felt that it is not blanket ban.
Rest author may post, the further details.
Guest
(Expert) 25 October 2016
Ruling position and feeling normally differs in most cases.
Dr J C Vashista
(Expert) 26 October 2016
Well advised by experts, nothing more to add.
Grant of soft loan(s) for various product(s) of the bank to its employees is one of its welfare-cum-motivational policy of employer.
Rajendra K Goyal
(Expert) 26 October 2016
Expert Kumar Doab ji,
Banks have directives against any outside borrowings (institutional as well as private - all loans including home loan, vehicle loan) without permission from competent authority.
adv.bharat @ PUNE
(Expert) 26 October 2016
According to bank policy for loan u can take loan.
Kumar Doab
(Expert) 26 October 2016
Expert Rajendra K Goyal ji,
One such directive has been posted.
Although you have posted from your resources that bank issue NOC, subject to................
There are clauses that I have noted that in their own good sense are inserted so that bankers do not use their position in the banking establishment and exploit....................go berserk..........and borrow from anyone and anywhere.............and in turn oblige others.
It is sincerely felt that it is not blanket ban.
The author may post directive from his bank (employer).
Surrender K Singal
(Expert) 26 October 2016
Basic issue remains need to forgo concessional rate of interest from own employer bank
Rajendra K Goyal
(Expert) 26 October 2016
Nothing more to add till receive from author whether on what basis the NOC declined by the Bank.
Kumar Doab
(Expert) 26 October 2016
Mr. Surrender K Singal is also right, in his observation.
Agreeing with Mr. Rajendra K Goyal, the query does not graduate to any need of any ruling or citation.
Rajendra K Goyal
(Expert) 26 October 2016
Sir,
NOC is irrespective / has no concern to rate of interest, it is for the purpose that employee is not caught in trap of heavy debt, may result fraud in financial institution by such employee.
Business purpose may also be related behind the curtain.
Kumar Doab
(Expert) 26 October 2016
Business relation is in open and in clause.
W.r.t.The basic question of the author, there seem to be purpose,reason, but no blanket ban.
Kumar Doab
(Expert) 27 October 2016
If your rights are infringed upon by anyone in any manner, you have the right to seek legal help.
The publication placed at website of banks also advertise implying:::::that bankers must not ::::: use their position in the banking establishment and exploit....................go berserk..........and be into reckless lending,reckless borrowing.
Guest
(Expert) 27 October 2016
You may better ascertain what are your rights and what should be your conduct during your employment in the bank.
Rajendra K Goyal
(Expert) 27 October 2016
Whether the employer has refused to give NOC, if so on what grounds?
Kumar Doab
(Expert) 27 October 2016
Application for home loan, NOC for home loan should not be misconduct.
Rajendra K Goyal
(Expert) 10 December 2016
The author has not replied the basic questions raised in the query.
Apply for permission to have loan from other Bank by a staff member is not a misconduct, obtaining loan without NOC / permission is misconduct.
Guest
(Expert) 10 December 2016
Where is the validity of your question, when you have not yet applied for NOC?
First apply for NOC, if refused, raise this question.
Kumar Doab
(Expert) 10 December 2016
The author has been silent for a month.
