Banks instructed to obtain copies of khatas, not RTCs

Banks instructed to obtain copies of khatas, not RTCs

Mangalore Today News Network

Mangalore, May 8:  According to an official press release from Syndicate Bank, the lead bank of the district, all financial institutions and banks are to insist on obtaining khatas issued by the Mangalore City Corporation (MCC), and not on the Record of Rights Tenancy and Corps (RTC), while granting loans against non-agricultural land within MCC limits. 

At present, the banks and financial institutions are insisting that people residing in villages under MCC limits must provide a copy of the computerized RTC for getting a loan. Even lawyers are insisting on the same while giving legal advice.

On the other hand, the city corporation is maintaining khatas for all non-agricultural land in areas under its jurisdiction and is issuing khatas to the land owners.