Urgent legal query

Querist : Anonymous (Querist) 24 July 2026 This query is : Resolved
I am a guarantor for an Overdraft (OD) loan sanctioned by Bank of India (home branch is in another state), and my personal property is currently mortgaged as collateral. To assess my contingent liability, I visited my nearest networked branch (Salt Lake Barasat) to request a copy of the Sanction Letter and Statement of Account.

The local branch manager outright denied my request. He falsely claimed that the bank cannot share loan details with a guarantor and stated I must physically travel to the out-of-state home branch. Furthermore, he refused to provide an official "Received" stamp on my formal written demand letter and failed to forward my request through their Core Banking System (CBS).

Given my co-extensive liability under Section 128 of the Indian Contract Act and RBI Fair Practices Code, what is the exact legal procedure to compel the bank to provide these documents without traveling out of state? Is my best next step to issue a legal notice to the Zonal Manager or immediately file a grievance on the RBI Ombudsman CMS portal for deficiency in service?

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A guarantor for a Bank of India overdraft loan, whose property is mortgaged as collateral, was denied access to the sanction letter and statement of account by their local branch. The bank falsely claimed guarantors aren't entitled to this information and refused to stamp a written request. However, under Indian law, guarantors have a right to these documents due to their co-extensive liability. The correct procedure involves escalating the request to the Regional Manager, then the Zonal Manager, or filing a grievance with the RBI Ombudsman.

kavksatyanarayana (Expert) 25 July 2026
Yes, a guarantor has the legal right to ask for a copy of the sanction letter and the loan account statement, even from a branch out of state. Because a guarantor shares equal financial liability for the loan, they are not considered a "third party" and are entitled to information regarding the debt. Under standard Core Banking Solutions (CBS), any branch of the same bank can pull up the records, though they may require the home branch's permission or data validation before releasing highly confidential documents. If a branch refuses to assist you, your escalating complaint should go to both the Regional Manager (RM) and the Zonal Manager (ZM), starting with the RM who oversees the local cluster of branches.

Dr. J C Vashista (Expert) 26 July 2026
You have a right to claim statement of loan account from the mortgagee bank.

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