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RBI extends OTS application deadline to Jul 31

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Responsible and pragmatic: Amitabh Chaudhry

There has been a high level of focus on financial and capital markets with a slew of measures

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Credit dividend on shares to savings bank account to be treated as a transaction: RBI

The account cannot be declared dormant even if no other transaction has taken place for two years

RBI asks banks to set timeline to process loans

Move came after RBI noticed that there have been inordinate delays by banks to convey credit decisions

RBI gives 30 days to banks on loan disbursal timelines

Asks banks to maintain a monitoring mechanism to check any delays

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