Question
RBI has issued some directions regarding releasing of
property documents within a certain time period.Which of the following statements is/are true regarding the given information- I. The Reserve Bank of India (RBI) notified that regulated entities (RE) should release the original moveable and immoveable property documents and remove charges registered with the registry within 30 days after full repayment and settlement of the loan account. II.When delays are attributed to REs and extend beyond 30 days, they will be required to compensate borrowers at a rate of Rs 7000 per day for each day of delay. III.These directives will apply to cases where the release of original property documents is scheduled on or after November 1, 2023.Solution
The Reserve Bank of India (RBI) notified that regulated entities (RE) should release the original moveable and immoveable property documents and remove charges registered with the registry within 30 days after full repayment and settlement of the loan account.  In cases where delays are attributable to REs and extend beyond 30 days, they will be required to compensate borrowers at a rate of Rs 5,000 per day for each day of delay.  REs must also communicate the reasons for the delay to the borrower. These directives will apply to cases where the release of original property documents is scheduled on or after December 1, 2023. The RBI issued these directives to address the challenges faced by borrowers and promote responsible lending conduct among REs.
Section 12 of the Transfer of Property Act is not applicable:Â
According to Section 32 of the Code on Wages, 2019, who is responsible for prescribing the manner in which the gross profits of a banking company are ca...
Match the correct option
According to Code 35 (1) of the Occupational Safety, Health, and Working Conditions Code, 2020, what can an Inspector-cum-Facilitator do regarding crop...
According to the Insurance Act where the amalgamation or transfer has not been made in accordance with a scheme approved by the Authority under section ...
Under what circumstances can any authority authorized by the Central Government detain an aircraft, as per the Aircraft Act?
Which section of the IPC delas with limit of solitary confinement?
The proceedings of Arbitral Tribunal________.
In a negligence claim, the requirement that the damage caused by the defendant's breach of duty must not be too remote a consequence is related to______...
As per the SEBI Act the questions which come up before the meeting of the Board shall be decided by majority votes of the members present and voting, h...
Relevant for Exams:
