Under the RBI directions regarding the 'Release of Movable/Immovable Property Documents on Release of Charges', what compensation must a bank pay to the borrower for each day of delay if it fails to return original property documents beyond 30 days after full loan settlement?

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Banking · RBI Regulations

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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5,000 Rupees per day of delay

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Answer 1

1,000 Rupees per day of delay

Answer 2

5,000 Rupees per day of delay

Answer 3

0.5% of the original loan amount per month

Answer 4

No monetary penalty, but free issuance of duplicate documents

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