RBI tightens PSL norms, mandates auditor certification for lenders

The Reserve Bank of India has strengthened priority sector lending compliance, mandating external auditor certificates from intermediaries to prevent double-claiming of loans. This move follows scrutiny of banks for misclassifying agricultural loans. The RBI aims to ensure credit flows to priority sectors by enhancing monitoring and internal controls.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/zkO5NY7
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