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With restrictions in place, the banks, without prior approval of RBI, cannot grant loans, make any investment, incur any liability, and transfer or otherwise dispose of any of its properties.
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In a tweet, Kristalina Georgieva, Managing Director, IMF said, "Happy to hear that Ajay Banga, who I have known for many yrs, has been nominated as a candidate to lead World Bank. His exec leadership skills & drive for innovation are well known.
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