Multiple choice

As per fair practice code for lenders, bankers should be constructive with a view to take care of any lender-related genuine difficulty that borrower may face, for loans up to Rs. ____.

  1. 25000

  2. 1 lac

  3. 2 lac

  4. 5 lac
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In the case of small borrowers seeking loans up to Rs. 2 lakh, the lenders should convey in writing, the main reason(s), which in the opinion of the bank after due consideration, has/have led to rejection of the loan applications within stipulated time.

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