RBIs policy framework for co-op banks
By Our Banking Bureau | 11 May 2002
RBI governor Dr Bimal Jalan told newspersons here that the need for a transparent monitoring system has already been spelt out in the recently announced credit policy itself.
At the macro level, he said, such scams, which were nothing but frauds, will be dealt with separately in close coordination with state governments. "These scams will have no impact as such on the bond markets as a whole. These are nothing but sheer frauds, where rules have been blatantly violated."