The Hindu Business Line : Banks' ad hoc committees get more time

THE Reserve Bank of India has decided to extend the time given to the ad hoc committees constituted by banks by six months, enabling them to complete their work within one year of their constitution.

In a circular issued to all scheduled commercial banks, the apex bank has also advised banks to associate non-officials in the ad hoc committees constituted by them.

Earlier, the ad hoc committees constituted by banks were expected to complete the work within six months and submit reports to the Reserve Bank of India.

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