Bank has credited by mistake 10 lakh rupees in my state bank of india saving account.
Money has been credited three months ago. Money has been spent by me now i dont have that much money.
bank is currently showing lien amount of 50,000. Bank has not contacted me in 7 days after putting lien and without informing me they have put lien.
I am ready to pay 2 lakh ruppees now. and i will pay remainnig amount within three months.
My questions are:-
1) what bank can do if i dont pay amount?
2) What legal actions it can take?
3) How to get more repayment time as much as i can get.
4) what can i do from my side to protect my self from legal actions?
5) Can get jailed?
I am ready to pay all the amount just i need is 3-4 months time.
I can pay partial amount only right now.( like 1/4 or 1/)