POSTED BY April 29, 2012 9:53 pm COMMENTS (5)ON
Need a clarification on the following;
We have applied for a loan of 60L from ICICI Bank. Now the bank is asking us to write checks for the entire loan amount, to be used as security against default, along with the property papers. The question is : Is this a regular requirement and is it legal/ acceptable to write check for the fund that we don’t have?