(1) What options bank have to recover loans borrowed under KCC if borrower dies.
(2) Is KCC loans a personal liability of the borrower and can't be recovered after his death .
(3)Can bank levy interest on it after a KCC loan turned NPA? If yes, is their a ceiling on amount of interest that can be levied.
(4)In any case ( For loans borrowed under KCC ), Can interest amount be more than the principal amount borrowed .
(5) Can bank take possession and auction farmer's asset if loan borrowed under KCC defaults ? If yes ,whether farmer land can be auctioned.
(6) What are the rules regarding bank to serve notice to the borrower in case of due loans borrowed under KCC.
(7)Can bank provide one time settlement with haircut to borrower in case of KCC loans.
(8) What are the procedures,if any,for amicable settlement of dues in case KCC loan defaults.
(9) What concession can bank provide to borrowers in case of genuine failures to repay the loans borrowed under KCC?
For points(3)& (4), apart from other legislation, regulations and circulars, reference can also be made to :
a) RBI circular (RBI/2007-08/373
RPCD.No.PLFS.BC. 78 /05.04.02/2007-08 ) dated June 19, 2008
b) Judgement of Honourable High court of Allahabad ,Justice S.N. Srivastava, Petitioners- Chandar, Bhagwandeen etc, dated September 05, 2007- {Banks can't recover amount double the principal amount in case of agricultural loans.}