recent question on Banking
QI have taken a housing loan from IDBI Bank. The loan was taken over by other PSU Bank (UBI). But even after three months of the takeover, the loan documents are not released by IDBI to UBI. Now, I have been informed by the IDBI that all the original documents are lost in the fire occurred at the SHCIL and now the bank is in the process of getting certified true copies from the registrar. I have following queries in this matter, 1) Do I accept these certified true copies or insist for the recreation of original documents? 2)Can I sell the home in future on the basis of certified true copies? 3) Will any bank accept this property as collateral security?
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