Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

raghu (officer)     11 May 2011

freezing of sb account

dear sir/maam,

i want to know wht is the rbi regulation on freezing of sb accounts. can a bank freeze a sb ac for non payment of a loan that has lapsed.

thanks



Learning

 2 Replies

adv. rajeev ( rajoo ) (practicing advocate)     11 May 2011

As per my knowledge SB account cannot be seized by the bank for non payment of loan. They can adjust the amount in the SB a/c to the loan account.

Kiran Kumar (Lawyer)     11 May 2011

https://www.rbi.org.in/home.aspx

 

try to find out the detailes from the above website.

 

if nothing is found then you may seek necessary information from the concerned authority under Right to Information Act.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register