'Board-approved norms must for realty valuations'

ocedure for realistic valuation of fixed assets and also for empanelment of valuers for the purpose. Banks should have board approved policies in place for valuation of properties including collaterals accepted for their exposures and the valuation should be done by professionally qualified independent valuers with no direct or indirect interest.

Banks have been asked to obtain minimum two independent valuation reports for properties valued at Rs 50 crore or above.