MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a)&(b): As per replies received from the Public Sector Banks (PSBs) and Insurance Companies,
some of the PSBs have informed cases of loss of property papers of home loan pledged with their
banks during the last three years and the current year as per detail below:
Name of the Bank Number of cases
Andhra Bank 03
Bank of Baroda 03
Indian Bank 02
State Bank of India 18
State Bank of Mysore 03
IDBI 01
Punjab & Slndh Bank 01
United Bank of India 01
Rest of the banks have informed that they do not have such cases.
(c)&(d): Banks take following steps in the event of loss of documents:
# FIR regarding loss of title deeds lodged with the Police.
# Caution Notice issued in Newspapers stating that property under Housing Loan is
mortgaged with the bank, registration of deposit of title deeds has been completed in
consultation with legal counsel.
# Reconstruction of documents.
# Make suitable arrangements to obtain certified/duplicate copies of documents/
agreement/deed at Bank`s cost from concerned Registrar office etc.
# Compensation as per bank`s policy/as per advice of Banking Ombudsman.
# Initiation of disciplinary action against concerned officials.
Instructions have issued by the respective Banks to the field functionaries for keeping all
property papers under dual custody and records in the matter.