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RBI introduces guidelines to banks for timely release of property.

In case of a delay, a compensation of Rs 5,000 per day will be applicable for each day of delay in releasing the property documents. RBI issues rules for returning property documents, papers will have to be returned within 30 days of full loan payment. The new guidelines underline RBI's proactive approach towards making lending processes more borrower-centric, hassle-free, and transparent, thereby...

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