New Delhi, July 8 -- The Reserve Bank of India (RBI) is expected to issue guidelines to standardise property title searches before banks sanction loans, with the aim of strengthening due diligence and reducing fraud involving mortgaged properties.

RBI Plans Uniform Property Title Verification Norms

The central bank has sought feedback from banks on the proposed framework. The guidelines are expected to prescribe a minimum period for title searches, key documents and land records to be verified, and precautions to be followed while preparing legal title verification reports.

Supreme Court Pushes for Standardised Due Diligence

The move follows a Supreme Court directive issued last year asking the RBI, banks and financial institutions to...