Tuesday, March 6, 2012

RBI rejects Rs 5,000 crore loans by ICICI Bank, Axis Bank and HDFC Bank to commodity traders

………..The RBI, during its inspection of banks' books, found that some private sector lenders, which do not have access to rural areas where farmers could be loaned, have provided funds to those who trade in commodities, they said. This does not fall under the definition of priority sector, the RBI has ruled..................

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