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Union Bank Circular For Valuers -No Indemnity Bond

Union Bank Circular For Valuers , No Indemnity Bond Required




(indiartinews@outlook.com)
Sent:Thu 11/5/2015 1:12 PM
To:

cmd@unionbankofindia.com;

Cc:

archana.nair@unionbankofindia.com;

Dear Sir,

As per your guideline for empanelment of valuer (instruction Circular 9089, dated 5.10.2011 To all branches) 1 (D)(VII) you can not insist indemnity bond compulsion for valuers empanelment (anex. I).Ms Archana Nair & Shri Amrutkar insisting valuers to send indemnity bond.
Kindly follow the law and procedure as IBA guideline ( Handbook on policy, standards and procedures for real estate valution by Banks and HFLs in India- Feb 2011, page 31 , point no. 1.9 as obligations Of the banks/ HFls , para 6) and Union Bank circular ( attached).

Kindly do needful 

Regards,
SK Shrivastava
9702859636
Valuers Against Injustice Cell 

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