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I think the question intend to ask is "what is the role an functions of legal department in banking business?".
In banks legal department has got lot of importance and its functions like
- looking after the NPA's
- looking after the documents and legal advise for loan processing and approval purpose
- adhering and abiding to the baking laws and regulations and putting and advsing the same for in practice in institution.
- Legal advice for making any banking products and marketting for the purpose of business and looking after its consequences.
- dealing with any litigation like recovery, or for defending the cases filed against the bank, etc.
above are the few important functions and the role of the legal department in banking business. Thanks.
