The requirement for Reporting Entities (REs) to release

all original movable/immovable property documents and remove charges registered within 30 days after full repayment/settlement of the loan account is stipulated in which regulatory code?

A Banking Regulation Act Correct Answer Incorrect Answer

B Fair Practices Code Correct Answer Incorrect Answer

C The Negotiable Instruments Act Correct Answer Incorrect Answer

D Payment and Settlement Systems Act Correct Answer Incorrect Answer

E Banking Companies (Nomination) Rules Correct Answer Incorrect Answer

Solution

As part of Fair Practices Code and to make things uniform, RBI asked "REs to release all the original movable/immovable property documents and remove charges registered with any registry within a period of 30 days after full repayment/settlement of the loan account."

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