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Loan to relative's defaulter

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 January 2015 Dear Sir,

Is there any rule or guideline of RBI that loan should not be given to relatives of defaulter? For example, if father is defaulter then his son can't be given loan for his son's own business

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Rupesh Jain

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Rupesh Jain (Expert)
17 January 2015 there is o rule but bank before giving loan take information of your family background. on that basis bank reject the loan.
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