India witnessed a truly historic moment on November 8, 2016, when the government took the remarkable step of demonetizing Rs500 and Rs1000 notes. Prime Minister Narendra Modi, in his address to the nation, stated one of the reasons for this policy was to counter the rising menace of fake Indian currency notes.
Debt Assignment. DEFINITION of 'Debt Assignment'. A transfer of debt, and all the rights and obligations associated with it, from a creditor to a third party. Debt assignment may occur with both individual debts and business debts. The company assigning the debt may choose to do so in order to improve its liquidity and/or to reduce its risk exposure.
See FAR 32.8, the ACT the lending institution is referring to could be the Assignment of Claims Act. Recommend reading FAR part 32 Assignment of Claims and the contract if your not familiar with procedures for processing an assignment of claims. The contract should also contain the Assignment of Claims document.