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Supreme Court Affirms Banks Must Report Wilful Defaults, Including Derivative Transactions, to RBI per Master Circular Guidelines.

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....Master Circular on Wilful Defaulters - dis-closer of information by the Bank to RBI - FWilful defaults of parties of dues under a derivative transaction with a bank are covered by the Master Circular and this we hold not because the RBI wants us to take this view, because this is our judicial interpretation of the Master Circular. - SC....

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