RBI increases loan limit of bank directors to Rs 5 cr from Rs 25 lakh

New Delhi: The Reserve Bank of India (RBI) has amended the bank's loan rules. RBI has raised the personal loan limit for company directors to 20 times. A circular has also been issued by the RBI for the same. 5 crore to their wives or relatives.

According to statistics, this limit has been increased by up to 20 times. Earlier, the limit was up to Rs.25 lakhs. According to the new RBI rule, the same rules will apply to a firm or company. Why not be the director, chairman, his wife or husband of the company, children, relatives or major share holders? In the new rules, RBI said that loan benif t proposals ranging from Rs 25 lakh to less than Rs 5 crore can be passed by the authority to the borrowers.

However, it also stipulates that borrowers will have to inform the Board along with all documents. Only then will the Board be able to take a decision on it. It is clear that with the increase in the loan amount, the RBI has made the rules somewhat strong. So that fraud can be avoided in any way.

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