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Provisioning under IBC not unusually high: RBI Deputy Governor
A strong insolvency code would improve the long-term credit quality of banks, and will place banks on a firm footing. It is, therefore, only logical that provisions made for cases referred in the IBC be at least 50 per cent. Interest rate would not be linked to any bank-specific issue, and the final rate will be a function of competition. The RBI deputy governor also hinted the regulator was working on a policy to regulate cryptocurrency, or virtual money used as medium of exchange.
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