Why is RBI rushing to defend banks exposed by Cobrapost? - Moneylife

Why is RBI rushing to defend banks exposed by Cobrapost? - Moneylife

It is intriguing that RBI Deputy Governor Chakrabarty is giving a ‘mixed’ response on a vital issue. Large-scale Financial Inclusion drive is about much smaller accounts and actually, KYC norms should be more stringent in case of bigger accounts(both deposit and credit). Statements like ‘There would be always some black money in the system and we don’t require sting operation to show that’ are vague and do not make anyone wiser.

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