Birdwatch Note Rating
2024-04-29 04:18:19 UTC - HELPFUL
Rated by Participant: 5D59F4B0B8A14E3BA554D658153F234F4CECFDA4792EE8279C1666C1BE2A1BFD
Participant Details
Original Note:
Factually incorrect. Any loan if not repaid is first written-off on the balance sheet by bank. It doesn't mean waived-off. Bank then attach the property which is then auctioned to recover outstanding loan as much as possible. Waive-off is a relief & differs from Write-off. https://moneyview.in/loan-insights/difference-between-write-off-and-waive-off
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