Multiple choice

A bank has allowed a current account holder an ad hoc overdraft of Rs. 15 lakh. That amount is now due. Is this amount recoverable under the provisions of the DRT Act?

  1. No, as it is not a regular loan.

  2. No, as only secured loans can be recovered under the DRT Act.

  3. Yes, as it is a legally recoverable amount by the bank.

  4. Yes, if the tribunal grants special permission to lodge the case.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

It is a legally recoverable amount by the bank.

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