https://www.taxtmi.com/news?id=17762 Banks must provide written reasons for rejection of loan applications under the Code of Bank's Commitment to Customer and the Fair Practices Code; non-adherence to these codes constitutes a valid ground for complaint under the Banking Ombudsman Scheme. Separately, loan sanctioning and recovery are internal bank functions requiring Board-approved loan policies that set exposure limits, documentation standards, security and margin requirements, delegation of powers, pricing and maturity policies, and criteria for interest-rate decisions. en-us Sat, 01 Apr 2017 11:51:14 +0530 Sat, 01 Apr 2017 11:51:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17762 Banks must provide written reasons for rejection of loan applications under the Code of Bank's Commitment to Customer and the Fair Practices Code; non-adherence to these codes constitutes a valid ground for complaint under the Banking Ombudsman Scheme. Separately, loan sanctioning and recovery are internal bank functions requiring Board-approved loan policies that set exposure limits, documentation standards, security and margin requirements, delegation of powers, pricing and maturity policies, and criteria for interest-rate decisions. News - Sat, 01 Apr 2017 11:51:14 +0530 https://www.taxtmi.com/news?id=17762