Quick Summary
RBI/2021-22/72 DOR.CRE.REC.No.33/13.03.00/2021-22 July 23, 2021 All Scheduled Commercial Banks (excluding RRBs) All Small Finance Banks All Local Area Banks Madam / Dear Sir, Loans and Advances Regulatory Restrictions Please refer to paragraphs 2.2.1.2, 2.2.1.4 and paragraph 2.2.1.5 ofMaster Circular on Loans and Advances - Statutory and Other Restrictions dated July 01, 2015. 2. On a review, it has been decided that i) For personal loans granted to any director of other
Daily Limit Reached
You have reached your daily limit of 2 Free Notice & Circular
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited Notice & Circular Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The threshold for personal loans granted to any director of other banks has been revised to Rupees five crore.
Loans and advances aggregating Rupees five crore and above to specified relatives of a bank's Chairman/Managing Director or other Directors must be sanctioned by the Board of Directors/Management Committee.
For these restrictions, 'relative' refers to individuals other than the spouse and minor/dependent children of the bank's Chairman/Managing Director or other Directors, and their relatives.
A 'major shareholder' is defined as a person holding 10% or more of the paid-up share capital or Rupees five crore in paid-up shares, whichever is less.
'Control' includes the right to appoint the majority of directors or to influence management or policy decisions, whether directly or indirectly.
CAclubindia
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12132&Mode=0