National banking watchdog will meet all banks on Thursday in the city over complaints that private banks are not honouring the Letter of Credits (LC) of Public Sector Banks (PSBs). Which private banks are not honouring the LCs will be investigated, said sources. At the meeting of State Level Bankers Committee (SLBC) for October-December quarter held on Wednesday, local businesses reiterated their complaint that private banks are not honouring LCs of PSBs. To this regard, the Reserve Bank of India (RBI) will organize a meeting of controlling heads of the bank. To our shock, the representatives of private banks denied our claim.

Source: dna March 29, 2018 01:02 UTC