Guarantees, LoCs to group companies will now have taut strings

The rules of the game on 'corporate guarantees' will change with the Reserve Bank of India (RBI) insisting on a water-tight, time-bound mechanism for the issuance of guarantees and their invocation by lending banks.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/txdp1To
via IFTTT

Comments

Post a Comment

Popular posts from this blog

RBI cancels licence of Rajasthan-based Sumerpur Mercantile Urban Coop Bank

The RBI has cancelled the licence of Sumerpur Mercantile Urban Cooperative Bank in Pali, Rajasthan, due to inadequate capital and earning prospects. Depositors will receive deposit insurance claim amount up to Rs 5 lakh from DICGC. As on November 30, 2023, DICGC has already paid Rs 45.22 crore of the total insured deposits based on the willingness received from the depositors concerned of the bank. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/PEzW9QB via IFTTT
Read more