https://www.taxtmi.com/news?id=4404 Banks must institute a loan recovery policy detailing recovery procedures, reduction targets, norms for waiver and monitoring, appoint nodal officers, deploy early warning systems and replace post-dated cheques with Electronic Clearance System; a Board Level Committee must monitor recovery. Banks are required to implement an effective information sharing mechanism on credit, derivatives and unhedged foreign currency exposures by the prescribed deadline, and lending decisions are conditioned on obtaining and sharing requisite information, with non-adherence attracting supervisory action including penalties. en-us Fri, 21 Dec 2012 10:35:54 +0530 Fri, 21 Dec 2012 10:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4404 Banks must institute a loan recovery policy detailing recovery procedures, reduction targets, norms for waiver and monitoring, appoint nodal officers, deploy early warning systems and replace post-dated cheques with Electronic Clearance System; a Board Level Committee must monitor recovery. Banks are required to implement an effective information sharing mechanism on credit, derivatives and unhedged foreign currency exposures by the prescribed deadline, and lending decisions are conditioned on obtaining and sharing requisite information, with non-adherence attracting supervisory action including penalties. News - Fri, 21 Dec 2012 10:35:54 +0530 https://www.taxtmi.com/news?id=4404