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Banking consortium

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 September 2015 fact:- IF ANY BANK EXIST BEFORE CONSORTIUM FORM & THIS BANK IS NOT THE PART OF CONSORTIUM THAN SHOULD ALL RULE & REGULATION WILL APPLICABLE TO THAT BANK.

example:- A company has opened current account in "a" nationalized Bank during 2007.

than company has form consortium with "B" nationalized bank during 2009.

Bank "b" has issued a letter to bank "a" instructing him to take "NO OBJECTION CERTIFICATE" from consortium bank i.e. Bank "b".

my question is whether all rule & regulation of consortium will applicable to bank "a".
if not, under which RBI guidelines it is not applicable.
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Amol S Joglekar

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Amol S Joglekar (Expert)
26 September 2015 "A" bank has the choice whether or not to accept the conditions of CONSORTIUM.
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Querist : Anonymous

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Querist : Anonymous (Querist)
28 September 2015 kindly provide specific rbi guidline
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Amol S Joglekar

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Amol S Joglekar (Expert)
28 September 2015 Please clarify who are you among above : A or B or Loan taker?

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