I had taken certain loan from my Bank and I defaulted in making payment of a couple of installments. The Bank thereafter to refuse to give me services of their Bank on that ground. Can the Bank stop operation of my current account or interfere in my day to day business transaction ?

I had taken certain loan from my Bank and I defaulted in making payment of a couple of installments. The Bank thereafter to refuse to give me services of their Bank on that ground. Can the Bank stop operation of my current account or interfere in my day to day business transaction ?

Subject to Bank’s right to sue for arrears the customer concerned the bank is to allow the operation of one current account, which will be free from the incidence of banker’s lien so as to enable the party to carry on its normal day to day business transactions, to obtain letters of credit at full margin and to enable payment on several heads.

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