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Apr 18, 2014
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Big loan defaulters to face Reserve Bank of India's audit
The Reserve Bank of India (RBI) has taken upon itself the task of investigating bank frauds after a series of inquiries by banks themselves in high-profile cases such as those involving Deccan ChronicleBSE 1.81 % and Kingfisher Airlines yielded very little.The Board of Financial Supervision (BFS), chaired by RBI governor Raghuram Rajan, has, in fact, cleared a proposal that the central bank will conduct an independent forensic audit of corporates declared fraudulent by banks.
Source -
http://economictimes.indiatimes.com
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