RBI/2013-14/361,
DBOD.No.Leg.BC.65/09.07.005/2013-14, dated November 6, 2013
All Scheduled
Commercial Banks
(Excluding RRBs)
It has been
brought to our notice that, some banks are not providing TDS Certificate in
Form 16A to their customers in time, causing inconvenience to customers in
filing income-tax returns timely.
2. The matter has been examined and
with a view to protect interest of the depositors and for rendering better
customer service, banks are advised to provide to their customers from whose
income tax has been deducted at source, TDS Certificate in Form 16A. Banks are
advised to put in place systems that will enable them to provide Form 16A to
the customers within the time-frame prescribed under the Income Tax Rules.
Banks should avoid waiting till the last moment.
3. This advice is issued under Section
36 (1) (a) of the Banking Regulation Act, 1949 (10 of 1949).
RBI /2012-13/524,
DBS.FrMC.BC.No.7/23.04.001/2012-13, dated June 07, 2013
The Chairmen
& Chief Executive Officers of all
Scheduled
Commercial Banks (excluding RRBs)
and All India
Select Financial Institutions
2. On a review,
it has been decided that the banks should also subject the title deeds and
other documents in respect of all credit exposures of `
5 crore and above to periodic legal audit and re-verification of title deeds
with relevant authorities as part of regular audit exercise till the loan
stands fully repaid.
3. The banks may
furnish a review note to its Board/ Audit Committee of the Board at quarterly
intervals on an ongoing basis giving therein the information in respect of such
legal audits which should cover aspects, inter alia, like number of loan
accounts due for legal audit for the quarter, how many accounts covered, list
of deficiencies observed by the auditors, steps taken to rectify the
deficiencies, number of accounts in which the rectification could not take
place, course of action to safeguard the interest of bank in such cases, action
taken on issues pending from earlier quarters.
