Subsidy on KCC loan

Querist : Anonymous (Querist) 29 July 2019 This query is : Resolved
My father was a farmer. He had an KCC loan 1lakh from BOI in 2015. my father passed away in 2018 in storke. After one year today(29 july 2019) I received a notice from bank to recovery the loan. But my family condition is not good. I dont know..how will give this money(1 lakh) to the bank. Can this is be closed?? Can someone please provide advice on this

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Isaac Gabriel (Expert) 30 July 2019
You need to repay .Else, the bank may initiate legal action against family members.

P. Venu

(Expert) 30 July 2019
The legal heirs are liable for the loan subject to the property they have inherited from the deceased.

Sudhir Kumar, Advocate (Expert) 31 July 2019
.how will give this money(1 lakh) to the bank.

FROM THE PROPERTY YOU GOT.

Can this is be closed??

AT TEH DISCRETION OF BANK.

Dr J C Vashista (Expert) 31 July 2019
You have the only option to discuss/request the issue with banker and settle it, for that you will have to repay the outstanding amount , which may be under the scheme of "one time settlement".
If you desire so, may consult a local prudent lawyer for better appreciation of facts and guidance.

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