Written by FREE COMPLETE STUDY MATERIAL NOTES FOR IBBI EXAMINATION
E-BOOK
Report of the IBA Working Group on Standardization of
Procedures for Empanelment of Valuers by Banks
Introduction
The Reserve Bank of India in their letter No.DNBS(PD)CC.No.802/ SCRC/26.03.001/2014-15 dated 8th August 2014 to the Indian Banks’ Association (IBA) expressed a need for improving the valuation process followed by banks to tone up the credit administration. Towards this, IBA was requested to standardize the process for empanelment of valuers by the banks.
The aforesaid reference of the Reserve Bank of India was considered by the IBA Managing Committee at its meeting held on 26th September 2014. The Managing Committee decided that IBA should set up a Working Group of Senior Executives from Banks to examine the issues and come out with a document giving the standard procedures to be followed by banks for empanelment of valuers ………………………
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