As a part of this event a loan-camp was also organised for attendees on how to get the bank loan without collateral security and repay the same in time.
Security is direct when it is deposited by the customer to secure his own loan account, while collateral security is deposited by another person to secure a customer's account.
Since the lender did not necessarily enter into possession, had rights of action, and covenanted a right of reversion on the borrower, the mortgage was a proper collateral security.
