The Reserve Bank of India on Monday asked banks to set a time line to process loans. However, the RBI did not set any particular time frame for it. The central bank also asked banks to make suitable disclosures about time lines by conveying credit decisions through their websites and notice boards. The move came after RBI noticed that there have been inordinate delays by banks in conveying credit decisions, leading to delays in project implementation.
News On AIR | September 1, 2014 8:24 PM
RBI asks banks to set time line to process loans