Thursday, October 22, 2009

The borrower and the asset

Books of Account
FIDC Handbook on Repossession
Finance Industry Development Council
( http://www.fidcindia.com/ )

Guidelines on repossession

Every act of repossession by an agent must be supported by a specific authorisation letter from the NBFC (non-banking finance company), in each specific case clearly identifying the borrower and the asset, states one of the guidelines in FIDC Handbook on Repossession from the Finance Industry Development Council.

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