May 08, 2024 08:56 (IST)
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After PNB scam, RBI discontinues LoUs and LoCs for trade credits

After PNB scam, RBI discontinues LoUs and LoCs for trade credits

Mumbai, Mar 13 (IBNS): The Reserve Bank of India (RBI) on Tuesday discontinued the Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for trade credits which were responsible for the Punjab National Bank scam.