Banks tread with caution on fraud case settlements
Bankers are wary of their decisions being questioned by vigilance and investigation agencies later, and want some assurance from the regulator before implementation of the circular. Lenders have held discussions with all stakeholders, including the government, soon after the circular was published, and want additional clarity before provisions are implemented.
Reserve Bank North Block Compromise Settlements Technical Write Off Fraud Settlements Finance Ministry
Source: indiatimes.com