RBI has questioned the decision of a 21-bank consortium led by UCO Bank to extend a staggering Rs 5,262-crore loan to Kolkata-based rice trading firm REI Agro which was found to be involved in fraudulent activities. The clarifications were sought in the light of RBI’s master circular on fraud, sources said, adding that there seems to be violation of its directions on fraud.

RBI questions banks on Rs 5,262 Cr loan

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