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Banks seek relaxation in account takeover norms

A bank executive said that the lenders made this representation to the government after widely held internal deliberations among state-run banks. "There are already various checks and balances in place. These guidelines create undue restrictions in normal business dealings," he argued. Former financial services secretary DK Mittal under whose tenure this circular was issued said that this was done after due consultation with all stakeholders. ....

Central Vigilance Commission , State Run Banks , Corporate Accounts , Account Takeover Norms , Dk Mittal ,