Financial Daily from THE HINDU group of publications
Thursday, Sep 02, 2004

Cross Currency

Group Sites

Home Page - Housing Finance
Industry & Economy - Economic Offences
Money & Banking - Co-operatives

`Co-op banks must share data on blacklisted builders'

Our Bureau

Mumbai , Sept. 1

AN RBI constituted group on `housing finance frauds' has recommended that urban co-operative banks should share information on blacklisted builders and seek agreement for sale in dematerialised form to guard against fraud such as forged documents and multiple financing.

Fraud such as forgery of stamped documents by bankers and builders has been given a high severity rating. The group said producing coloured photocopies of documents, such as encumbrance certificates, is also a highly common fraud. These fake documents are difficult to identify and distinguish from the original.

More Stories on : Housing Finance | Economic Offences | Co-operatives

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Pvt telecom cos threaten to stop paying access deficit charges

Bharti, Reliance work out lower licence fee payouts
Don't sign the attendance register, just log in!
Duty, taxation structure for auto sector needs radical changes: Montek
Mortgage-backed securities — NHB provides more leeway
`Co-op banks must share data on blacklisted builders'
IFCI acquisition: Will PNB pip IDBI?

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line