NEWS & ADVICE : PERSONAL LOAN
ICICI Bank to auction pledged gold jewellery to recover loans
By Vaibhav Aggarwal
Mar 7, 2013
Print    Email    RSS   

Private sector lender, ICICI Bank will auction pledged gold jewellery weighing around 25 kg to recover loans on borrowers defaulting on their payment.

The auction will be conducted across various branches of ICICI Bank across Uttar Pradesh for gold jewellery deposited by about 100 customers as collateral for their loans. ICICI Bank declared in the public notice that the auction will be held on March 16.

"Since the borrowers have failed to repay their dues under the facility, we are constrained to conduct an auction of the pledged gold ornaments on March 16, 2013," the bank said in a public notice.

It further said, "In the event any surplus amount is realized from this auction, the same will be refunded to the concerned borrower and if there is any deficit post the auction, the balance amount shall be recovered from the borrower through appropriate legal proceedings."


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Do rising NPAs reflect an ailing banking...
BPLR or Base rate?? Which is better…?
Bankers concerned on RBI loan recovery...
Gold based financing; 'loan to buy gold...
Credit profile and its effect on loan...


my take home salary is rs.11000 and i want personal...
THIS WAS HOW I GOT MY LOAN
DO YOU ALLOW ME TO CLOSE THE BAL OUTSTANDING IN MY...
My loan was rejected and my name was added to civil...
MY PAN CARD AEAPA6099R HOW TO CKECK PERSONNEL LOAN...
I want to know weather my name is listed in cibil...

NEWS THIS WEEK
State bank of Patiala likely to merge with its parent bank Jul 31, 2014
SBI bank’s initiative to help farmers and rural areas Jul 30, 2014
UCO bank working with PAIC to finance green house project Jul 25, 2014
RBI laid new frame work to regulate banks Jul 23, 2014
SBI bank tied up with RML services LTD Jul 18, 2014
News Archive