Use of Force by Banks to Recover Loans
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100 comments Page 9 of 10.
Smita said:
1 decade ago
Hi friends.
Banks provide loans to help people in their bad financial conditions but if people will not pay back than banks need to hold a bid to get back their money. This is only option but using force is not good option because India is a developing country and anything like using force make a bad impression on people and threat others to stay away from taking loans.
Banks provide loans to help people in their bad financial conditions but if people will not pay back than banks need to hold a bid to get back their money. This is only option but using force is not good option because India is a developing country and anything like using force make a bad impression on people and threat others to stay away from taking loans.
(17)
Vineet said:
1 decade ago
Giving loans is an essential part of banking and recovering the dues is also very important aspect, and for the matter of fact bank do check all the documents and assess the credit worthiness of the Customer, but if still people refuse to repay with an intention to default, using a recovery agent becomes necessary. As the money that bank gives as loan is public money.
(1)
Karishma said:
1 decade ago
Yes, I agree with this statement, because if banks has a right to give loans then they have a right to recover in the best possible manner in which they can. If the person is not able to repay the loan, then he has no right to take a loan. Banks are here to lend money to help people for a particular problem, why people not understand that they are not doing a charity.
(30)
Mark said:
1 decade ago
According to my view the bank are generally give the loans to the people who all are having the good salary in the sense of as per bank limited salary and her property. So there is no need to force to recover loans. But some situation people are not pay the loans so they supposed to force to recover loans the conclusion is they have rights to force to recover loans.
(2)
Devendra Singh said:
1 decade ago
I think there is no matter of using force because one who is taking loan is committed to return the same but due to some unavoidable circumstances some time he may not be able to return the same within the stipulated time, but as and when he is capable to return he returns, in case he cannot return then the guaranteeing person can be asked to deposit the same.
(7)
Anand.G said:
1 decade ago
It is in the financial institutions' hands, whether to give loan or not to a particular persons. If it undergoes a wide analysis of the persons ability to repay the loan within a particular time then the banks can give loan with confidence. My point is to the banker's side that they should perform a feasibility study before offering loan to a particular person.
(3)
Naveen kishore said:
1 decade ago
Today banks are providing loan like it is an primary function of this. He has to understand this that this function is also an harmful function of it. Regarding to recovery of loans I use to say that if banks mortgagee property then why it don't go legal activity because if bank give service then it has right to go legal. For recovering its assets.
(6)
Suman said:
1 decade ago
Hello friends.
According to my point of view bank has the right to take their money back. Just think that if you give money someone for some period and when the time goes you also want your money back so why not bank ? bank also has some rules and regulation they have to work according to their rules so yes bank can force to recover their loan.
According to my point of view bank has the right to take their money back. Just think that if you give money someone for some period and when the time goes you also want your money back so why not bank ? bank also has some rules and regulation they have to work according to their rules so yes bank can force to recover their loan.
(14)
Deepak Tanwar said:
1 decade ago
The solution is very simple ...banks must do their homework nicely before giving loans. Forcing customers to repay the loans show that bank failed to judge the customer at the time of granting the loan. and if the customer is not repaying even if he is capable then the bank should take legal action or may get the money back forcefully.
(8)
Ritu Raj said:
1 decade ago
Hi in my view banks have every right to recover the loan by selling the mortgaged property and other assets of the wilful defaulter as banks money is of public money and if loans will go to be bad in higher scales banks will default in payment to its depositor and ultimately whole financial system will collapse.
Thanks.
Thanks.
(15)
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