Whenever any account turned into NPA accounts, bank start hard recovery process with legal actions. In this video i have explain about the various steps that a bank can take against defaulter borrowers.
Some of the action which can be taken by bank are :
1. Issuing Reminder Letter for EMI dues
2. Issueing Legal Notice from advocate
3. Cheque bounce case under NI act section 138
4. Auction of car, home , gold in case of secured loan
5. Filing CIVIL Suit in court for recovery.
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