INSTITUTION OF VALUERS MEMBERSHIP NOT MANDATORY -RTI
Reserve Bank India in a RTI reply dated 22 Dec 2015 with ref no VPVV/RIA/RIA No8172/21.04.159/2015-16 about RBI guidelines for empanelment of valuers . These guidelines to be followed by all commercial banks.
The question was asked to RBI that Institution Of Valuers membership is mandatory for empanelment of valuers . The reply was annexed by RBI circular of 2007 where no where is written that IOV ie Institution of Valuers membership is mandatory for Valuers Empanelment. Banks can not insist for membership of any association.