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Shares of PSU stocks dropped by up to 13% as RBI imposed stricter regulations on project loans during the construction phase, with provisions set at 5%. Power financing companies like PFC and REC witnessed sharp declines.
: The RBI on Friday tweaked rules to reduce the risk faced by banks in their exposure to capital market in the case of issue of Irrevocable Payment Commitments (IPCs).The RBI issued a circular stating that "only those custodian banks will be ...
New Delhi [India], May 3 (ANI): The Reserve Bank of India (RBI) has issued directives to banks regarding their exposure to the capital markets, emphasizing compliance with prescribed guidelines. The latest circular, pertains specifically to the "Banks' Exposure to Capital Market - Issue of Irrevocable Payment Commitments (IPCs)". The RBI's move comes in response to