........Rajan's efforts are aimed at preventing large borrowers from gaming the system by playing one lender against the other and by resorting to litigation to frustrate bank attempts at recovery of bad loans. Earlier this year, RBI put in place a system where banks got together to take action against borrowers who defaulted from paying to one lender. “We are working with Sebi in trying to ensure that wilful defaulters are prevented from accessing all kinds of funds and not just banking funds,“ Rajan said,...........
Read - TOI
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