Re: Do we have RTI from Cooperative banks as well as from Nationalized banks?
Cooperative banks are not public authorities under RTI Act. Please go through the earlier discussions on this subject in the thread Co.Op Banks are covered under RTI ?
Regarding your other Questions:
1. The loan recovery officer of a cooperative bank has the right of Revenue Recovery. That means coop banks need not get a court order to attach a property that has been pledged, to recover their loan. They are very well empowered to do it by themselves.
2. Supposing the guarantor has given a Fixed Depost receipt of a commercial bank by way of security, then the coop bank can seize that account to recover their loan. But in respect of other accounts/properties that are not pledged to them, the coop banks have no right of attachment.
3. ICICI is not a nationalised bank; but will have to abide by the attachment order of a coop bank only in respect of a pledge as mentioned above.
4. The period of seizure/attachment can continue till that coop bank's loan is cleared.
5. Any such attachment order takes an immediate effect as soon as it is made by the authorised official under the law. There is no scope for a commercial bank to wait until its customer is duly informed and then proceed with the attachment.
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