Co-op bank & power to remove 2% prepayment

pooja dedhia (Querist) 06 August 2012 This query is : Resolved
what are the ways co-operative bank & nationalized bank are different in their e operative activity and power utilised by them?

under which acts they are operating & control?

how rbi makes them regulating and imposition of rules ?

can co-operative bank has liberty to remove the prepayment penalty of 2% in letter of sanction draft when there is prepayment of loan?

how co-operative bank consider and has power to remove this clause from the sanctioning of term loan?

if clent apply for the same to remove the above said 2% penalty clause, can the application is entertained by the co-operative bank?
is their laws allow to do?

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ajay sethi (Expert) 06 August 2012
academic query

girish shringi (Expert) 06 August 2012
Its the matter of internal administration of the Bank.which differs,bank to bank and in Co-op. Bank if A/A permits the BOD,they can do the same.

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