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There is "some truth" in the Cobrapost's allegations of wrongdoing by banks and the RBI has issued notices to their managements, Governor D Subbarao said today.
"We have done a study of those banks, investigated them... and we have issued notices to the managements and shall take appropriate action," Subbarao said during the R L Sanghvi Endowment AMA Annual Lecture on Economics, in Ahmedabad.
