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Thursday 6 September 2018

Home / Business News: Latest News on Business / Financial News / India Business & World Business News / Stock Markets / PNB fraud robbed Indian businesses of competitive trade edge

PNB fraud robbed Indian businesses of competitive trade edge

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Following the PNB fraud, RBI banned LoUs to limit the damage to the financial system. The result was the cost of funds for exporters and importers rose as the industry was forced to seek new credit tools. The worst hit are the smaller enterprises as the ban is eroding their margins and competitiveness.

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