Tuesday, August 12, 2014

Govt mulls law to give banks more muscle

................."Bank will be able to induct a new management if a company is unable to pay. The name-and-shame policy might be adopted for wilful defaulters. Assets on which security was not deposited could also be seized. For recovery of assets, banks should be able to look at other bank accounts as well. Defaulters often divert funds to other banks,"......

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