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Court Notice by Bank and bank non-agreement over OTS


04-Mar-2023 (In Banking / Finance Law)
I had account with Bank and it became NPA in 2012. They are not agreeing on OTS settlement and now send legal notice. How to convince bank to agree on OTS
Answers (1)

Answer #1
605 votes
My best advise is you can approach the Legal Services Authority of India, situated in all the states. They will engage a lawyer for you can fight out the matter. You can also meet the bank and request for reduction and waiver of interest if you are willing to settle the smaller loans immediately, thereby most of your worries will be over.
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