Banks: Tighter norms for wilful defaulters - Submit Site

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Date Added: May 29, 2008 06:36:06 AM

"The entrepreneurs/promoters of companies where banks have identified siphoning/diversion of funds, misrepresentation, falsification of accounts and fraudulent transactions should be debarred from institutional finance from the scheduled commercial banks, development financial institutions, government-owned NBFCs, investment institutions, for floating new ventures," an RBI circular said.

Category: Business & Economy » Finance and Investment » Loans

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