Page 52 - Banking Finance October 2023

FEATURES

sustainability initiatives. Being able to convey complex commitment to making a positive impact, and a proactive
concepts in a clear and concise manner is highly valued. mindset are crucial. Employers look for individuals who
demonstrate dedication to sustainable practices, resilience
Analytical and problem-solving abilities: Strong analytical in the face of challenges, and a long-term vision for a
skills will help you assess environmental impacts, identify sustainable future.
areas for improvement, and develop sustainable solutions.
Problem-solving abilities will enable you to tackle challenges Aptitude: Demonstrating the required skills, knowledge, and
and find innovative ways to address sustainability issues. expertise is equally important. Employers seek candidates
who possess the technical competencies necessary to

Collaboration and leadership: Sustainability often requires address sustainability issues effectively. The ability to learn
working with interdisciplinary teams and engaging and adapt to new technologies and evolving practices is also
stakeholders from various sectors. Being able to collaborate highly valued.
effectively, influence others, and lead sustainability initiatives
Possessing the right qualifications, technical skills, industry
will enhance your career prospects.
knowledge, and communication abilities will open doors to
opportunities. However, an enthusiastic attitude, passion,
Balancing of attitude and aptitude is key to and commitment to sustainability are equally essential to
thriving in the field of sustainability.: drive positive change and contribute to a more sustainable
Attitude: Having a passion for sustainability, a genuine world. (Source: ToI)

RBI issues guidelines for responsible lending; sets 30 day-limit to

release property documents after loan closure

The Reserve Bank of India (RBI) on Wednesday issued guidelines for banks, non-banking financial companies (NBFCs)
and other regulated entities to address the issues faced by the borrowers and towards promoting responsible lending
conduct among such entities.

The RBI said that the Regulated Entities (RE) shall release all the original movable or immovable property documents
and remove charges registered with any registry within a period of 30 days after full repayment or settlement of the
loan account. Moreover, the borrower shall be given the option of collecting the original movable or immovable
property documents either from the banking outlet or branch where the loan account was serviced or any other
office of the RE where the documents are available, as per his preference.
In order to address the contingent event of demise of the sole borrower or joint borrowers, the REs shall have a well
laid out procedure for return of original movable / immovable property documents to the legal heirs. Such procedures
shall be displayed on the website of the REs along with other similar policies and procedures for customer information,
the RBI notification said.
In case of delay in releasing of original property documents or failing to file charge satisfaction form with relevant
registry beyond 30 days after settlement of loan, the RE shall communicate to the borrower reasons for such delay.
However, if the delay is attributable to the RE, it shall compensate the borrower at the rate of ?5,000 for each day
of delay, the RBI said.
Additionally, in case of loss or damage to original property documents, the REs shall assist the borrower in obtaining
duplicate or certified copies of the property documents and shall bear the associated costs, in addition to paying
compensation. However, in such cases, an additional time of 30 days will be available to the REs to complete this
procedure and the delayed period penalty will be calculated thereafter. These directions shall be applicable to all
cases where release of original property documents falls due on or after December 1, 2023. (Source : Mint)

52 | 2023 | OCTOBER | BANKING FINANCE