Set up special agency to monitor big loans: Govt to banks
The Finance Ministry on Friday reportedly asked banks to appoint a special agency to monitor the status of loans above â¹250 crore. The ministry has also written to Hong Kong branches of four Indian banks, asking them to reconcile accounts and check for irregularities. These branches allegedly gave $1.77 billion to Nirav Modi-linked firms based on PNB's fake LoUs.