the borrowers are required to merely submit a request to the lending institutions for being considered under the Resolution Framework. Thereafter, the lending institutions will take an in-principle decision – as per their Board approved policy – on invoking the Resolution Framework. After such invocation, the specific contours of resolution plan to be implemented may be decided by the lending institutions, in consultation with the borrower.
2) it is necessary to peruse terms of loan given by bank to advice
3) bank can deduct penal interest and other charges if you have failed to pay loan instalments on time
4) if additional amount is released to you bank would insist on mortgage as per terms of loan