RBI revises various regulatory restrictions for providing loans & advances to bank directors, relatives

Reserve Bank of India revised various regulatory restrictions for providing loans and advances to bank directors and their relatives.   Personal loan of maximum five crore rupees can be granted to directors of other banks. Earlier this limit was 25 lakh rupee.  Approval of directors or management committee will be required to sanction loans of five crore and above to any relative other than spouse and minor, dependent children of their own Chairman, Managing Directors or other Directors. Same co...