Banks in India will no longer be able to secretly auction off stressed loans under a new framework agreed upon by high-street banks. The decision to auction loans must now be notified to all key players in the market, ending the practice of keeping potential bidders in the dark. Banks have also established a timeline to close such deals within seven working days after receiving final approval from lending banks.from Banking/Finance-Industry-Economic Times https://ift.tt/iPTMR3d
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