On July 1, 2016, the Reserve Bank of India came out with a Master Circular on "Frauds – Classification and Reporting" under Section 35 A of the Banking Regulation Act, 1949, later updated on July 3, 2017. The circular is divided into 11 chapters, with one entirely devoted to "Loan Frauds- New Framework."from Banking/Finance-Industry-Economic Times https://ift.tt/SG58Fp1
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