The Reserve Bank of India (RBI) ordered commercial banks on Tuesday to stop issuing with immediate effect guarantees in the form of letters of undertaking - which are at the heart of the country's biggest bank fraud - in the latest regulatory clam...
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By REUTERS from NYT http://ift.tt/2tIJyfF
By REUTERS from NYT http://ift.tt/2tIJyfF
RBI Bars Issuance of Letters of Undertaking for Trade Credit
![RBI Bars Issuance of Letters of Undertaking for Trade Credit]()
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March 13, 2018
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