Nirav Modi impact: RBI scraps letters of undertaking for import trade credits – Business Line


Business Line

Nirav Modi impact: RBI scraps letters of undertaking for import trade credits
Business Line
With the fraudulent letter of undertaking (LoU) scam aggregating ₹12,600 crore at Punjab National Bank shaking the banking system, the Reserve Bank of India on Tuesday asked banks to discontinue issuance of LoU/Letter of Comfort (LoC) for trade credits ...
RBI Stops Letters Of Undertaking For Import Trade CreditsThe Quint
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Nirav Modi fallout: RBI discontinues LoUs, may impact trade financingThe Indian Express
Economic Times -The Indian Express
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