Use of Force by Banks to Recover Loans
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100 comments Page 7 of 10.
SANDEEP said:
1 decade ago
Arun, I appreciate your words but think of the situation when people needs money. They are not just taking it for the comfort of their life, they are taking because they are in need. Firstly the bank should take note of the property available with the customer. If the customer don't have enough property they should not be given loan. But this is also not a solution, the bank should impose different loan interest to different customer depending on the annual income. This might solve the problem.
(3)
DEVENDRA SINHG said:
1 decade ago
As far as my views on force to be used to recover the loan from the borrower is not justified as at the time so payment of loan bank should follows the rules in vogue and fulfills the term and conditions of loan and it should also be ensured that the person who taking loans is capable to return the same within the stipulated period. At the last since the loan is the govt money property of the person who is unable to return the loan be auctioned and amount recovered be liquidated the loan.
(1)
Charu said:
1 decade ago
I'm not agree with this. Because in that situation person need money from bank to start any business and they have the plan to get profit and return back the loan money to bank, but in bad situation they got loss in their business and not able to return back the money. So, bankers should give time to them. This is my thought. Because now a days many students doing their studies with bank loans. So please put trust on them and help everyone, then they will be truth to bankers.
Thank You.
Thank You.
(11)
Pankaj singh said:
1 decade ago
Whenever bank provide loan to the borrower then bank get the assurance about that borrower that what the person do and what assets they have. Then a bank decide to give him a relevant money that he could return to the bank. If somehow the borrower fail to pay money then bank send there agent to know the problem. Then again the borrower will get some more time by bank to pay the money. If the same think is happening again and again then bank will take a strict action against the borrower.
(5)
Poonam said:
1 decade ago
Hi Friends, According to me in India three types of people exist. First who are poor, 2nd who are middle class and 3rd who are rich. Loan are those people who are needy. Banker always try their force on poor and middle class people who sometimes unable to pay loan due to some strong reasons. But bankers not say anything to rich people. Bank should try to understand the problem of needy people. Instead of using force Bank try to give them some more time to pay back loan.
(9)
Gaurav angi said:
1 decade ago
Sandeep, I agree with your point, that bank should check the credit worthiness of an loan seeker before granting them the advances. There is a agency called Credit Information Bureau India Limited (CIBIL) which provides credit history of an individual (if he is not applying for the loan or any type of credit for the first time) bank check their credit report and also ask individual for some colletral securities so that the risk of credit default could be minimized.
(3)
Sanket said:
1 decade ago
Banking is also a business and no one wants to loose their money so definitely bank also never want that.Before granting loan to customer they should study its background .rather than doing it banks are advertising that they can give loans in just 5 minutes,this is where the problem starts customer feels it good and takes it without thinking how to return it.Force is not best way for recovery .They can recover it by legal ways like auction of property etc.
(46)
Bikram joshi said:
1 decade ago
Banks these days provide loans to its customer just without any tight information of the borrower. Thus, it creates a situation of inconvenience for them to recover it. In such situation the institute is left with with no other option other than to use some malice means. As such the money the borrower borrowed is the money of other individual in rotation basics. Therefore it has to be endowed with such power to recover it by any means.
(2)
Akriti said:
1 decade ago
Banks requiring to use force to recover loans is an indicator that its credit appraisal process is faulty. It is not continuously monitoring the lender if the funds are being used for the specified purpose. So, it is better to improve their credit appraisal process than to resort to violent activities to recover loan, which is also prohibited by law.
Even if one defaults they can always approach the court and go by the legal route.
Even if one defaults they can always approach the court and go by the legal route.
(17)
Neeraj said:
7 years ago
Hi Guys,
There is a proper process of selling all the loans in the market like repayment capacity and proper follow-ups etc. And if we do this and keep our focus on all the facts so different-2 kinds of forces never take place at the front side and we would never get nervous in our lives. Givers and receivers both have to perform at the same place to complete the whole process so we must do all the activities very gently.
Thanks.
There is a proper process of selling all the loans in the market like repayment capacity and proper follow-ups etc. And if we do this and keep our focus on all the facts so different-2 kinds of forces never take place at the front side and we would never get nervous in our lives. Givers and receivers both have to perform at the same place to complete the whole process so we must do all the activities very gently.
Thanks.
(25)
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