Bob giving weird reasons to not remove negative balance on account

[Aniket]

IMO, objective of both the things are same, just they have played with words or in other words used loopholes maliciously just because the defination looks like exhaustive one (fault of DoR as well), because negative balance/Dr balance and lien, signifies the same that the bank is supposed to recover the money as soon as money gets credited, for which RBI seems to have restricted.

So, the same can be challenged but again it's upon the competency & discretion of judge.

 

[ramkumar_yramkumar_y is verified member.]

No. Objective is different.

"because negative balance/Dr balance and lien, signifies the same that the bank is supposed to recover the money as soon as money gets credited, for which RBI seems to have restricted." - You're wrong. With negative Balance, bank gets money in it's P&L by debiting account.

Negative Lien is just like instruction to recover at later stage - Here bank gets nothing until the account is credited with some fund.

The different is clear and its upto you to accept or not.

By your logic, banks shouldn't recover charges at later stage if balance is unavailable at time of charge assessment.

I'm not talking what's good or bad - I'm just explaining what's what. Accept or leave - I won't be replying more on this.