RBI asks urban co-operative banks to review loan policy at least once in a financial year
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- Last Updated on 28 July, 2022
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Circular no. RBI/2022-23/93 DOR.CRE.REC.56/13.05.000/2022-23, Dated: 26.07.2022
The RBI observed that in several Urban Co-operative Banks (UCBs) that policies w.r.t Management of Advances – UCBs not only lack comprehensive coverage but also do not require a periodic review. In order to ensure that the loan policy reflects approved internal risk appetite and remains in alignment with the extant regulations, the RBI has advised that the loan policy of the bank shall be reviewed by Board at least once in a financial year. The instructions will come into effect immediately.
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