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of <h1>Reserve Bank Directs Banks on Loans Over Rs. 50,000: Transfer Shares for Voting Rights, Compliance Required in 35 Days.</h1> The Reserve Bank has issued a directive to commercial banks regarding loans secured by company shares. For loans exceeding Rs. 50,000, shares must be transferred to the bank's name, granting it exclusive voting rights. Existing loans must comply within 35 days, or agreements will be terminated. Advances against partly paid shares require Reserve Bank approval. Banks cannot exercise voting rights on pledged shares without prior approval. For share-brokers, the directive applies only if shares are held over three months. Loans under Rs. 50,000 are exempt to avoid inconveniencing genuine investors.
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