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Last week, I wrote about how banks basically accept meaningless personal guarantees from industrialists or their group companies which can never be effectively invoked.
The Supreme Court on Monday issued notices to the Reserve Bank of India (RBI) and central bureau of investigation (CBI) on Bharatiya Janata Party (BJP) leader Dr Subramanian Swamy's plea seeking a probe by CBI into the alleged role of nominee directors in bank loan fraud cases.