Important Advisory to Borrowers

Borrowers are advised not to make cash payments of ₹2,00,000 or more towards loan repayment, foreclosure, settlement or any other transaction with the Company.

Under Section 269ST of the Income-tax Act, 1961, receipt of ₹2,00,000 or more in cash in specified circumstances is prohibited. Further, Sections 269SS and 269T of the Income-tax Act, 1961 prescribe restrictions on acceptance and repayment of certain amounts in cash beyond specified limits. Non-compliance with the applicable provisions may attract penal consequences under the Income-tax Act, 1961.

Borrowers are requested to use approved banking channels such as NEFT, RTGS, cheque, demand draft, or other permitted electronic modes for all such transactions.