Economic TimesLean R·
Banks to clear old trade, payment mismatches
Mumbai: For years, missing numbers, lost documents, and wrong entries have led to mismatches between trade and payment flows, growing over time and lying unreconciled with banks. Now, the Reserve Bank of India (RBI) has told banks in a recent meeting to reconcile the figures and close the matters.Banks will have to find ways to regularise the cases, worth thousands of crores, cross-check other documents, client statements, and track-records to conclude that these old exports and imports were in…
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