India s central bank today said it has decided to tighten connected lending regulations to avoid cases influential or persons in power can sway decisions on lending in favour of borrowers with close connections. Shaktikanta Das said the RBI will come out with a unified regulatory framework on connected lending.
The Reserve Bank of India (RBI) is tightening connected lending norms to address concerns related to persons in power who influence lending decisions having close connections with borrowers. RBI Governor Shaktikanta Das announced a unified regulatory framework on connected lending for all regulated entities to avoid gaps in regulation.
Chanda Kochhar, her husband Deepak Kochhar, and Videocon Group's promoter, V N Dhoot, have been charged in an alleged loan fraud scam case of Rs 3,250 crore, and all three were named in CBI's 11,000-page chargesheet.
A chargesheet was filed in April against Kochhar, her husband, Deepak Kochhar, Videocon Chairman Venugopal Dhoot and six others by the CBI. On Monday, the investigation agency made submissions before a special court for cognisance of the chargesheet.
A special court here on Wednesday extended the CBI custody of former ICICI Bank MD and CEO Chanda Kochhar, her businessman husband Deepak Kochhar and Videocon Group head Venugopal Dhoot by a day till Thursday.While the Kochhars were nabbed on .