RBIs scrapping of Letter of Undertaking may choke trade funding

A police officer stands guard in front of the Reserve Bank of India (RBI) head office in Mumbai, India, August 9, 2016.Reuters fileThe Reserve Bank of India has banned the Letter of Undertaking and Letter of Comfort for importers in the wake of the Rs 14,000 crore fraudulent transaction at Punjab National Bank that was… Read more RBIs scrapping of Letter of Undertaking may choke trade funding