RBI New Order: Reserve Bank of India (RBI) has made a big announcement regarding loan. According to the latest information, if a bank does not return the property documents deposited by the customer within 30 days even after repaying the entire loan, then serious action will be taken against him. Under this the Reserve Bank (Reserve Bank of India) has announced that for doing so, now banks will have to pay a fine of Rs 5000 per day.
Let us tell you that most of the cases are seen in which even after repaying the loan, the customer keeps visiting banks to get back his property documents. In such a situation, it is being said that now this will provide relief to the loan taking customers.
This is the instruction of Reserve Bank of India
Let us tell you that the Reserve Bank of India has posted information from its official If banks do not do this within 30 days, there is a provision for punishment. Under this, the bank will have to pay a fine of Rs 5000 per day. Let us tell you that for taking loan, various types of documents are taken by the banks from the customers and then after the loan is repaid, there is a delay in returning it. RBI has taken this big step in this regard. It is being said that this step of RBI is going to provide special relief to the customers.
Documents will be available here and rules will apply on them
Let us tell you that the customer can get the documents given to the banks for the loan only from the loan giving branch. Apart from this, options have been kept to get documents from other branches also. Let us tell you that the Reserve Bank has clarified that if the borrower dies untimely, the property documents can be returned to his heirs. For this, the prescribed terms and conditions will have to be followed. RBI has also given information in this regard that this rule will be applicable to home loan, car loan, personal loan, gold loan and all other types of loans. At the same time, the bank also clarified that if the documents are not returned within 30 days after the loan has been repaid, then the borrower will have to pay a fine of Rs 5000 per day to the bank.
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