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Banking & Insurance LawsStart a Discussion on Banking & Insurance Laws of India (any of one can also ask question in this page and any one can answer it)


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81 Comments on "Discussion Forum on Banking & Insurance Laws"

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veena rustagi
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lic death claim NOT ISSUED BY LIC BRANCH LAXMI NAGAR DELHI-BO-12K.POLICY NO-126178830.THREE YEARS LATE

veena rustagi
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sir,my husband expired with life insured from lic laxmi nagar mangal bazar delhi branch.now i deposited all documents as required by lic .but death claim not issued since three years.i have no source of income .my childrens near to death due to hunger.lic police no-126178830-prakash chand rustagi

Narayana
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Dear sir, my name is narayana retaired state government officer aged 67 years. My pension credits in sbh warangal main branch. I stood as a guarantor for a loan taken on pension amount 120000. The person who took loan used to pay 6000 per month as emi. After paying 9months (6000*9=54000) unfortunately she died she doesn’t have spouse. Bank has been deducting emi from my pension they have deducted 4500 every month. They deducted for 4months 4500*4=18000. Now they are saying they will keep my entire pension on hold till they recover their loan amount. My pension is 13600 per… Read more »
Gaurav Nagpal
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Mr.Narayana, In the normal circumstances if you are a guaranter than you are liable to pay the balance loan amount and if you do not pay the bank can file a legal suit against the guaranter because you have given the guarantee, You have 2 options left 1. If the bank done any insurance against the loan given to the insured than please check the policy as in those circumstances you can get escape. 2. The other option you have is to stop making a payment through your policy and as result bank go legal against you and then you… Read more »
Neil
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HDFC Bank Manager arrested for LC fraud A day after the arrest of an ICICI Bank employee by Mumbai Police for illegally withdrawing Rs.49 lakh from a dormant account, another such case has come to the fore wherein an HDFC Bank employee was found to have aided racketeers to withdraw approximately Rs.15 crore. On January 3, police personnel from the MRA Marg police station arrested Umesh Sakharkar, Manager (NRI Banking Branch, HDFC bank), in connection with the Letter of Credit (LC) racket, in which The Ratnakar Bank Ltd. was duped to the tune of nearly Rs.15 crore. The involvement of… Read more »
SUBRAMANIAN NATARAJAN
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SUBRAMANIAN NATARAJAN

Now that RBI has asked all banks to implement Ind AS (IFRS) international standards merged with Indian GAAP for banks wef Jan1, 2018, is there any one who can throw light how impairment of assets would be valued by banks? Will it affect all assets collaterally mortgaged to financial institutions. Any one who has previously handled IFRS in a foreign country may answer this question.

Ritesh sishodhiya
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I am staying somewhere else. Till August I was paying installments and maintenance of the premises but now due to financial issues I have stopped the EMI payments. When account was about to go in NPA, my inlaws paid the installment. http://kanoonquestions.com/
what a wonderful post.

Gaurav Nagpal
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90 days from the date you have stopped the payment. After 90 days the account will turn into an NPA account and there after the bank will start the recovery procedure.
Consult a consultant before it gets too late.

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