Although such alerts are not compulsory for the banks, this may become the norm now if payments are missed even for a day.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
Rather, the existing ones should be implemented speedily to clean up the mess.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
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