Reserve Bank Governor Duvvuri Subbarao on March 22 said some corrective steps will be taken to strengthen the banking system which according to him is largely safe. Subbarao’s statement come amid allegations of money laundering in leading private sector banks.
He added that the systems are largely safe. However, there is a need for some corrective action and based on the findings of the investigation, RBI will take corrective action, he said on the sidelines of an event in Bangalore.
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