'Delay in foreign currency loan disbursal unacceptable'

INDORE: Reserve Bank of India (RBI) has asked the banks, having their presence in the state, not to delay disbursal of foreign currency loans. In case any bank official is found to be involved in such kind of practice, then RBI will take a strict action against him. Banks have also been instructed to treat foreign currency loans at par with normal bank loans. The information was shared by RBI Executive Director G Padmanabhan while interacting with the exporters and importers of the region here on Friday. Padmanabhan was here to attend FEMA exhibition/interface-cum-workshop. Padmanabhan, on the occasion, asked the regional director of RBI (Bhopal), PR Ravi Mohan to conduct snap audit at the branches of the banks to find out the reality. He also asked him to take action against those found negligent towards their duty.............

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