RBI clamps down on credit guarantees as PNB fraud swells

Discussion in 'Top News' started by jaya, Mar 13, 2018.

  1. jaya

    jaya New Member

    MUMBAI (Reuters) - The Reserve Bank of India on Tuesday barred all lenders from issuing letters of undertaking - a form of credit guarantee at the heart of a major fraud - as embattled Punjab National Bank disclosed its total exposure in the case had risen by another $145 million.
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