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RBI Mandates Release of Property Documents within a Month of Loan Settlement

  • The Reserve Bank of India (RBI) has ordered Regulated Entities (REs), encompassing banks and non-banking finance companies(NBFCs), to release all original property documents within 30 days after full repayment of a loan.
  • Should REs fail to comply, a penalty of Rs 5,000 per day will be enforced.
  • These directions will come into effect from December 1, 2023.
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