Banking

This query is : Resolved

Prashant (Querist)
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06 April 2009 One of our clients is enjoying the working capital limits from the nationalized bank. While renewing the facitlities bank has increased margin from 20% to 25% without giving any reasons. when the customer represented to reduce it to 20% as per the original sanction, the bank refuse to do so. So whether bank can change the terms & conditions of working capital loan without giving an opportunity of being heard to the customer or can bank revise the terms arbitrarily without intimating to the customer.
Pls let us know any guideline if any is there or in such situation what customer should do if he does not want to accept the revised terms.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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06 April 2009 they can revise the terms.

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