RBI directs banks to dispense with ‘No Due Certificate’
Banks (including RRBs) are advised to dispense with obtaining ‘No Due Certificate’ from individual borrowers (including SHGs & JLGs) in order to ensure hassle free credit to all borrowers. Earlier similar rule was applicable only for loans up to Rs.50000.00 to small and marginal farmers, share croppers and the like in agriculture advances. The new…