Banks which have been pushing retail credit have built up risks by compromising on underwriting standards.
State-owned Punjab National Bank is the lead lender to Sintex Industries.
The division bench of justices BP Mohan and V Nallasenapathy pronounced an oral order on Monday.
Indiabulls has described the PIL as “malicious” and “malafide” with the intention of scuttling the planned merger.
RBI tells cos not to exchange info, bars management interaction pending approval of merger.
The meeting comes at an important time as the government and Mint Road grapple with NBFC crisis.
The company’s main focus is on lending to builders and other real estate companies.
Moving floating interest rate loans would push banks, borrowers and the RBI itself into unchartered territories.
HDFC Bank has about 40 million customers and a total vehicle loan book of Rs 85,000 crore.
Lender working on interfaces with car makers which allows it to offer instant pre-approved loans to vehicle buyers.
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