...The RBI, in its recent guidelines on Joint Lenders’ Forum and Corrective Action Plan, had specified timelines for cases where the lenders have chosen to recover bad loans, in addition to other timelines on restructuring and wilful defaulters. But the delays continue. Former RBI deputy governor K C Chakrabarty had pointed out that an emerging but unwelcome trend in the banking sector was the rise in large value frauds (of above Rs 50 crore) in consortium lending accounts. He said in some cases, there was a lag of over 12-15 months in declaration of the same case as fraud by different banks......
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