Asked January 01, 2017

Crossed bank limit for loan

  • 2 Answers

I was working for the Bank for 5 years joined in 2011 and on 2013 I took staff loan of Rs 3.20 lakhs and I used as staff OD account and extended up to 12.00 Lakhs which is wrong because my limit was 3.20 lakhs but bank didn't notice this till 2016 and now they have suspended me but I had made full payment there is no financial loss but as per RBI rules they have registered case in local police now they lodged complaint against me I want to know what will be charges against me and why considering already full amount is settled.

Answers 2

As you have said that bank have lodged complaint against you than you can collect the complaint copy from concerned police station than only you will be able to defend yourself.

Agree Comment 0 Agrees almost 5 years ago

Sir, the RBI has given many guidelines on relations between banks and its employees. However, it has left the lending policy of a bank solely to it. The bank through its lending policy document or through your employee agreement would have listed out various penalties and dispute resolution mechanisms. You must through the copy of the FIR and your agreement figure out if a charge can be maintained against you and act accordingly. Please make sure to get a sound legal practitioner to get ideal assistance.

Agree Comment 0 Agrees almost 5 years ago

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