RBI guide­lines to banks

HT Estates - - FRONT PAGE -

Check req­ui­site clear­ances:: Banks should en­sure that the bor­row­ers ob­tain prior per­mis­sion from gov­ern­ment/lo­cal gov­ern­ments/other statu­tory au­thor­i­ties for the project, wher­ever re­quired Get a copy of sanc­tioned plan:: If the ap­pli­cant owns a plot/land and ap­proaches the banks for a loan, a copy of the sanc­tioned plan by the com­pe­tent au­thor­ity in the name of the ap­pli­cant ap­ply­ing for the loan must be ob­tained Take af­fi­davit-cum-un­der­tak­ing: An af­fi­davitcum-un­der­tak­ing must be ob­tained from the per­son ap­ply­ing for such credit fa­cil­ity that he or she shall not vi­o­late the sanc­tioned plan Power to re­call en­tire loan: It shall be the sole re­spon­si­bil­ity of the ex­e­cu­tants to ob­tain com­ple­tion cer­tifi­cate within three months of com­ple­tion of con­struc­tion, fail­ing which the bank shall have the power and the au­thor­ity to re­call the en­tire loan with in­ter­est, costs and other charges Ap­point ar­chi­tect to cer­tify com­ple­tion: Ar­chi­tect ap­pointed by the bank must also cer­tify at var­i­ous stages of con­struc­tion of build­ing that the con­struc­tion of the build­ing is strictly as per sanc­tioned plan

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.