Rationale & Situational Analysis. Banks can not sanction loans against their own shares. Prohibited under Sec-20 (b) of BR Act Prohibited Under Sec- 34(1-b) of SBI Act This tantamount to reduction in capital of the Bank.
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RBI has come out with instructions to alleviate hardships faced by customers in getting the settlement for small value deposits without getting a valid presumptive death certificate.
Our Bank instructed that the claims up to a threshold limit of Rs.1,00,000/- (Rs. One Lac only) will be entertained without insisting for valid death certificate. All such claims in respect of missing persons, reported missing for a minimum period of one year, shall be settled on production of the following documents.
2. Non-traceable report issued by the police authorities.