All the banks may seek a declaration from their existing borrowers availing sanctioned limits of Rs.5.00 crore and above or wherever, it is in their knowledge that their borrowers are availing credit facilities from other banks, and introduce a system of exchange of information with other banks and obtain regular certification by a professional, preferably a practising Company Secretary or Chartered Accountant or Cost Accountant, regarding compliance of various statutory prescriptions.
Now, the applicability of the Certification for lending is extended. Thus, it is now made mandatory (applicable) for
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All Scheduled Commercial Banks (excluding RRBs and LABs)
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Select All-India Term-lending and Refinancing Institutions
(Exim Bank, NABARD, NHB and SIDBI)
The list of all RBI circulars regarding Lending under Consortium Arrangements/Multiple Banking Arrangements till date:
- DBOD.No.BP.BC.46/08.12.001/2008-09 [the first original circular] dated September 19, 2008 on the above subject along with
- subsequent circulars DBOD.No.BP.BC.94/ 08.12.001/2008-09 [revised formats] dated December 08, 2008 and
- DBOD No. BP. BC. 110 / 08. 12. 001 /2008-09 dated February 10, 2009 [clarification to include CA & CWA with CS] respectively and
- DBS.CO.FrMC.BC.No.8/23.04.001/2008-09 dated June 24, 2009 to exchange information on multilateral basis regarding incidents of fraud, legal actions taken and covert activities / operations of the borrower after the fraud, etc..
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RBI/2009-2010/116 DBOD.No.FID.FIC.2397/01.02.00/2009-10 dated 5th August 2009 by which it is advised that the above guidelines on consortium arrangements/multiple banking arrangements issued to banks, shall mutatis mutandis apply to the select all-India Financial Institutions (AIFIs) for sharing of information among the AIFIs and with banks.
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