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Debt Recovery Tribunal is a quasi-judicial body formed under the Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act, 1993 to facilitate recovery of loans by banks and financial institutions to the customers.
Wrongful death is a type of legal claim or cause of action against a person who can be held liable for a death. [1] The claim is brought in a civil action, usually by close relatives, as authorized by statute. In wrongful death cases, survivors are compensated for the harm and losses they have suffered after losing a loved one.
Payment protection insurance (PPI), also known as credit insurance, credit protection insurance, or loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.
How to claim money from a bank after a death. Joint account holders, designated beneficiaries and will administrators or executors can claim money from a bank after an account holder’s death. If ...
By virtue of the SARFAESI Act 2002, the Reserve Bank of India has the authority to register and regulate Asset Reconstruction Companies (ARCs). Under this act secured creditors (banks or financial institutions) have many rights for enforcement of security interest under section 13 of SARFAESI Act, 2002.
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
The Union of RBI employees made a strong protest against the Narasimham II Report. [19] There were other plans by the United Forum of Bank Unions (UFBU), representing about 1.3 million bank employees in India, to meet in Delhi and to work out a plan of action in the wake of the Narasimham Committee report on banking reforms.
Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India (RBI) was formed. This act along with the Companies Act , which was amended in 1936, were meant to provide a framework for the supervision of banking firms in India .