Upgrad LLM

recovery officer for housing loan dues

Chief Manager(Law)

Under the provisions of Chapter VA of THE NATIONAL HOUSING BANK ACT, 1987 any Schedule Bank which has granted Housing loan can also approach the Recovery Officer for Recovery of its dues from the borrower. This provision was introduced w.e.f 12/06/2000.However, it is not known whether the Recovery Officers have been appointed by the Central Government under the provisions of section 36 D of the Act. Wherever a Recovery officer has been appointed, Banks will have additional forum of Recovery for dues in respect of housing loans.
 
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