Implement norms on relief measures for areas affected by Natural Calamities: RBI to Banks

New Delhi, June 2 (KNN) The Reserve Bank of India(RBI) has advised the all the Scheduled Commercial Banks (excluding Regional Rural Banks) to ensure implementation of RBI guidelines on Relief Measures by banks in areas affected by Natural Calamities

In a notification issued, RBI said “During the hearing of the captioned Writ Petition, the Hon'ble Supreme Court has directed the concerned authorities in the Union of India, the State Governments and the Reserve Bank of India and other banks to religiously implement their policies since they are ultimately intended for the benefit of the people of our country and not for the benefit of any stranger.”

The petition was submitted by the Swaraj Abhiyan before the Supreme court against Union of India and others- Guidelines on Relief Measures by banks in areas affected by Natural Calamities (KNN Bureau)