Date:26/03/2008 URL: http://www.thehindu.com/2008/03/26/stories/2008032658080100.htm

Front Page

RBI directive

Mumbai: The RBI proposes to make it mandatory for banks to give loan defaulters one last opportunity to repay before taking possession of the mortgaged property.

This was stated in its second draft guidelines on recovery agents released on Tuesday. — PTI