Bank audit
This query is : Resolved
13 May 2014
can bank give loan to its staff less than its base rate?
13 May 2014
yes...banks do give such loans and it is allowed.
the following categories of loans could be priced without reference to the Base Rate: (a) DRI advances (b) loans to banks’ own employees (c) loans to banks’ depositors against their own deposits.
please refer https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=326
the following categories of loans could be priced without reference to the Base Rate: (a) DRI advances (b) loans to banks’ own employees (c) loans to banks’ depositors against their own deposits.
please refer https://www.rbi.org.in/commonman/english/scripts/FAQs.aspx?Id=326
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