2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 5 crore
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Rs 10 crore
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Rs 12 crore
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Rs 23 crore
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Detailed explanation-1: -Reserve Bank of India (RBI) has overhauled rules for extending loans to directors of other banks and relatives of directors.
Detailed explanation-2: -RBI allows loans up to Rs 5 crore to other banks’ directors without board approval.
Detailed explanation-3: -A person shall be deemed to be a relative of another, if and only if:- a) They are members of a Hindu Undivided Family; or. b) They are husband and wife; or. c) The one is related to the other (or vice-versa) in the manner indicated below: Father (including step-father)
Detailed explanation-4: -The guidelines ensure transparency in disclosures so that the customers fully understand all the information/data that is being accessed by the lending entities putting them in control of their own data while ensuring the companies follow all the data privacy guidelines."
Detailed explanation-5: -(iii) The prudential exposure limits for UCBs for a single borrower/party and a group of connected borrowers/parties shall be 15 per cent and 25 per cent, respectively, of their tier-I capital.