Rs 5,000 fine per day! RBI orders banks, NBFCs to release property docs within 30 days of loan repayment.
SUMMARY:.The RBI has issued a directive requiring Regulated Entities (REs), including banks, NBFCs (including HFCs), ARCs, LABs, and Co-Op Banks, to release all original movable and immovable property documents within 30 days after the full repayment or settlement.The move will come into effect on December 1, 2023.It further said failure to comply with this directive …