Tag: Loan Repayment

RBI asks banks, NBFCs to release original movable, unmovable property documents within 30 days of full repayment of loan

Lenders to be penalised ₹5,000 per day in case of delay on their part.

As per the latest RBI’s directive, the borrower will be given the option of collecting the original movable / immovable property documents either from the branch where the loan account was serviced or from any other office of the RE where the documents are available.

The Reserve Bank of India (RBI) has issued directions to Regulated Entities (REs) such as banks and non-banking finance companies (NBFCs) 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.

This instruction has come as per the guidelines on Fair Practices Code issued to various REs since 2003, who are required to release all movable / immovable property documents upon receiving full repayment and closure of loan account.

Source: https://www.thehindu.com/business/rbi-asks-banks-nbfcs-to-release-original-movable-unmovable-property-documents-within-30-days-of-full-repayment-of-loan/article67301975.ece

Morning Buzz: Nifty hits all-time high of 20,000, Byju’s to sell Epic, Great Learning to pay loan

Nifty hits all-time high of 20,000
The Nifty hit an all-time high of 20,000 taking 51 trading sessions to get there after breaching the 19,000 mark on June 28. The move was on account of both local and FPI flows. FPI flows have been constrained in their China investments on account of the dire outlook for its economy. A portion of those flows have come to India. Year to date FPIs have invested $15.9 billion.
(Economic Times, Mint, Business Standard, BusinessLine)

Kotak pulls mid- and small-cap recommendations
Kotak Institutional Equites has dropped recommendations on midcaps that it covers as it cannot see too many opportunities for upside beyond the BFSI space. The brokerage has removed its favourite stocks in capital goods, healthcare, QSR and real estate sectors as it says it would be incorrect to recommend stocks with low conviction and potential downside to their fair values.
(BusinessLine)

Source: https://www.forbesindia.com/article/news/morning-buzz-nifty-hits-alltime-high-of-20000-byjus-to-sell-epic-great-learning-to-pay-loan/88163/1

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