banking law

Querist : Anonymous (Querist) 05 October 2010 This query is : Resolved
respected experts

can any advocate ask for loan
or home loan

if any provision is there please explain

santosh maske

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R.Ramachandran (Expert) 05 October 2010
An advocate is also an ordinary citizen, and as such can ask for any loan including home loan. No law prohibits him from taking such loans.

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Parthasarathi Loganathan (Expert) 05 October 2010
Generally Banks have the false apprehension to grant loans to certain professionals as in case of default or litigation, they have to be at the mercy of legal procedures. But as a Banker, I never exercised such conservative approach.

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Devajyoti Barman (Expert) 06 October 2010
The advocates are not debarred to et the bank loan but the banks generally do not wish to grant unsecured loan.

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