Sir,
Would you please inform me whether an elected delegate of an Urban Co-op. Bank can be contested for Directors’ Election, if there is a HBL (House Building Loan) with that Bank in his name ? The loan is very much regular in repayment. As per RBI’s Master Circular – Board of Directors-UCBs “existing advances may be allowed to continue upto the date when they are due.” . Does the RBI norm allow him to file the nomination for contesting the post of Director ? Further, In case of an OD/CC Loan, the term ‘upto the date when they are due” what does it mean ? whether in that case the tenure of the loan is to be considered upto the date of next ‘Date of Renewal’ ?
Eagerly waiting for your kind and valued reply, Sir.
Kind attn. Shri I. C. Naik
Sir,
Would you please inform me whether an elected delegate of an Urban Co-op. Bank can be contested for Directors’ Election, if there is a HBL (House Building Loan) with that Bank in his name ? The loan is very much regular in repayment. As per RBI’s Master Circular – Board of Directors-UCBs “existing advances may be allowed to continue upto the date when they are due.” . Does the RBI norm allow him to file the nomination for contesting the post of Director ? Further, In case of an OD/CC Loan, the term ‘upto the date when they are due” what does it mean ? whether in that case the tenure of the loan is to be considered upto the date of next ‘Date of Renewal’ ?
Eagerly waiting for your kind and valued reply, Sir.
With regards,
Apurba Sen
(West-Bengal)