Facing Bank Seizure or Property Attachment? Here's What You Need to Know Understanding Bank Seizure and Property Attachment Bank seizure and property attachment can be a stressful experience for individuals. It's essential to understand the process and your rights as a borrower. Banks may seize or attach property when a loan is not repaid, and it's crucial to know your options to avoid this situation. Know Your Rights as a Borrower As a borrower, you have rights protected by law. The Reserve Bank of India (RBI) and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act provide guidelines for banks to follow during the seizure and attachment process. Reasons for Bank Seizure Banks may seize or attach property due to non-payment of loans, default on loan repayments, or if the loan is classified as a non-performing asset (NPA). Understanding the reasons behind the seizure can help you take corrective action. Consequences...