https://www.taxtmi.com/article/detailed?id=10740 Banks must adopt a reasonable, businesslike and timely approach when accepting payments under a one time settlement (OTS) scheme; courts exercising constitutional writ jurisdiction may grant brief extensions where the borrower shows genuine effort, minimal delay, reasons beyond control, prior substantial payments, post-deadline acceptance by the bank, bona fides evidenced by deposits, and where rigid bank conduct would produce inequity. RBI guidance mandating simplified, non-discriminatory OTS mechanisms for public sector banks informs bank policies and limits arbitrary deviation by bank authorities. en-us Sat, 08 Oct 2022 13:08:06 +0530 Sat, 08 Oct 2022 13:08:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10740 Banks must adopt a reasonable, businesslike and timely approach when accepting payments under a one time settlement (OTS) scheme; courts exercising constitutional writ jurisdiction may grant brief extensions where the borrower shows genuine effort, minimal delay, reasons beyond control, prior substantial payments, post-deadline acceptance by the bank, bona fides evidenced by deposits, and where rigid bank conduct would produce inequity. RBI guidance mandating simplified, non-discriminatory OTS mechanisms for public sector banks informs bank policies and limits arbitrary deviation by bank authorities. Articles Other Topics Sat, 08 Oct 2022 13:08:06 +0530 https://www.taxtmi.com/article/detailed?id=10740