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RBI to banks: Return property papers within 30 days of loan repayment, or pay Rs 5000 fine
The Reserve Bank of India (RBI) has issued guidelines to address discrepancies in the practices followed by banks regarding the release of property documents upon loan repayment. The guidelines state that banks must release the documents within 30 days after full repayment, provide compensation for delays, and assist in obtaining duplicate or certified copies in case of loss or damage.
The Reserve Bank of India (RBI) has issued guidelines to address discrepancies in the practices followed by banks regarding the release of property documents upon loan repayment. The guidelines state that banks must release the documents within 30 days after full repayment, provide compensation for delays, and assist in obtaining duplicate or certified copies in case of loss or damage. 
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