Obtention of revival lettet or bcl in banks

goyalbimal56@gmail.com (Querist) 09 December 2013 This query is : Resolved
In punjab revenue fee payable by agriculturist for aloan for agriculture is exempted.I want to know that we as banker have to to take balance confirmation letter from agri borrower once in three year.please advise the stamp duty payable by borrower.

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Rajendra K Goyal (Expert) 11 December 2013
Balance confirmation is not a loan agreement. Better consult the relative circular to find which documents does not attract stamp. Consult your local Bank lawyer.

Advocate Ravinder (Expert) 14 December 2013
Revenue fee is nothing to do with Bank transactions. In reply to your second query I say that you have to obtain renewal of the debt within 3 years from the date of execution/renewal which is mainly based on Demand promissory note, otherwise your right to recovery the debt will be time barred.

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