interst
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2011
Can a cooperative bank can increase the rate of interest(bond rate) on loans by giving a notice in bank notice board
U S Sharma
(Expert)
17 July 2011
depends on borrowing terms
if the loan is on fixed terms then NO
if floating terms then YES
if its overdraft or Cash credit account then YES
if the loan is on fixed terms then NO
if floating terms then YES
if its overdraft or Cash credit account then YES
18 July 2011
It depends. If the money for the bonds have been collected through the advertisement from public then it cannot be revised or enhanced. It can only be done through notification or is to be passed by the AGM.
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