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of <h1>RBI Circular Mandates Banks to Honor Court Judgments on Guarantees, Ensuring Revenue Realization (Circular No. BC-185/21.04.009-93.</h1> The circular addresses issues faced by the Department in executing court judgments related to bank guarantees. Banks have been reluctant to honor guarantees without certified copies of court judgments. To resolve this, the matter was escalated to the Reserve Bank of India, which issued Circular No. BC-185/21.04.009-93 on October 21, 1993, instructing all commercial banks to comply with such judgments. The circular is distributed for information and guidance to ensure the realization of revenue as per court orders.
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