Circulars/Notifications - Banking Policy & Regulations Department  
 BPRD Circular Letter No. 15 of 2008
June 24, 2008 

The Presidents/Chief Executives,
All Banks/DFIs,



Dear Sir / Madam,

Pledge of Third Party Share against Financing to Brokers

Banks / DFIs are advised that while accepting shares as security, they must ensure that the beneficiary of the facility is absolute owner of the shares so pledged or has the necessary mandate to pledge the shares as security for availing financing facility from the bank / DFI.


Yours truly,

Sd/-

(SYED IRFAN ALI)
Director

       
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