.........If the allegations turns out true, the private sector banks would be under the scanner as they could have approached RBI for funds instead of indulging in illegal activities. In the meantime, the RBI should also be blamed as it holds control over all the scheduled banks being the supreme banking authority of the country. It holds the cash reserves of all the scheduled banks; controls the credit operations and banking system through licensing and inspection; and acts as bankers' bank by lending money in times of crisis.........
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