The banking system must have been rocked by the Syndicate Bank fraud that was unearthed a while ago, but, Reserve Bank of India (RBI) is not flustered, going by the reaction of RBI Banking Ombudsman (BO) M Palanisamy said today in Bangalore. Speaking to reporters in Bangalore today, Palanisamy said that a solitary instance of fraud cannot bring down a bank. "Banks are subject to regulation and online reporting of its NPAs (non-performing assets) and also the offsite surveillance system. Many banks across the globe are in crisis. But in India, with constant monitoring by the RBI, all banks, including foreign ones are running properly," ..........
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