.............Reserve Bank of India Governor Raghuram Rajan has been an advocate of prudent lending and prompt repayment principles. He is sympathetic to the bankers' cause and is likely to argue against waivers, said the person. “The regulator is also against the plan,'' said the person. “We are looking at a public interest litigation (PIL), but if something concrete happens even before that, we may drop it.'' Even among bankers there are doubts about the fallout of such a litigation as some believe that there is very little they can do to challenge policy decisions...........
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