Planning To Take Loan? RBI Introduced new rules for these loans
Reserve Bank India (RBI) has directed NBFC banks to return all customer documents within 30 days of loan completion. If this is not done, the bank will have to pay a penalty of Rs 5000 per day.
Bank Loans: If you have taken a personal loan for property, soon there will be a big change in its terms. Talking about the statistics, 25 percent of the total loans are related to property home loans. That’s why this news is important for you to know.
In fact, Reserve Bank India (RBI) has directed NBFC banks to return all customer documents within 30 days of loan completion. If this is not done, the bank will have to pay a penalty of Rs 5000 per day. Previously there was a problem in getting the documents. Till now, many complaints related to this were coming to RBI.
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So, this big step has been taken by the Reserve Bank of India. Earlier, banks used to spend several months issuing the documents. Due to this, customers had to face problems. Moreover, there are also cases where customer records are lost. So, now in case of lost documents, the bank will fully help the customer to get these documents as soon as possible. Talking about the penalty amount, this bank will do it to the property owner.
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After Corona, there has been a strong increase in the number of personal loans. Before 2020, only 15 percent of personal loans could be taken, but since 2020, NBFCs data has seen a growth of 45 percent. Since then, more fraud cases have been registered. For this reason, the RBI had to take a tough stance in its policy.
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