Hi,
Is there any order or law debarring banks to function in own buildings?
Prasad 09 May 2016
Hi,
Is there any order or law debarring banks to function in own buildings?
siddhartha sinha 10 May 2016
G.L.N. Prasad (Retired employee.) 10 May 2016
There is confusion in the query. Banks must mostly function from their own buildings, as such functioning in permanent buildings increases the Public trust. So most Banks always tried to have their own buildings, constructed to suit those requirements.
However, if the bank is in a week position, with out sufficient reserves and wishes to utilise Public funds for construction of such buildings, RBI or concerned controlling authority may bar the individual Bank for investing other's/ borrowed / deposit quantity in their own buildings by Banks.