As many banks and financial institutions have come under scanner for harassing homebuyers in connivance with real estate companies particularly in case of subvention plan and facing Central Bureau of Investigation (CBI) probe on direction of the Supreme Court, banking regulator RBI has virtually shrugged off its responsibility and told SC that it has over the years issued various guidelines and circulars to monitor use of loan amount by developers to prevent misuse and siphoning of funds. Read more at: https://realty.economictimes.indiatimes.com/news/regulatory/have-issued-norms-to-monitor-use-of-loan-money-by-builders-rbi-to-sc/121742666