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Banking System Safe And Stable, No Need To Panic: RBI
02 Oct 2019, 02:18 PM IST i

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The Reserve Bank of India said on Tuesday that there is no need to panic on the basis of rumours
Last week, the RBI moved to take charge of PMC Bank, one of the country's top five co-operative lenders, and suspended its managing director Joy Thomas and board after uncovering lending irregularities.
The PMC Bank case comes at a time when the country's financial sector is struggling against more than Rs 10 lakh crore of non-performing assets or bad loans. State-run banks account for the lion's share of this amount.
The Sensex ...
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