The move will have cascading effects for lot of related sectors
RTGS is used to transfer large sums, the minimum amount being Rs 2 lakh. This mode is used primarily to facilitate trade and market transactions. The primary beneficiary would be the capital markets.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
The onus is on you to reject financial products that don't suit your needs.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
