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Although, the negotiations for the same are in process, there is no commitment as of now. As per PRASAC s bylaws, the Supervising Board would comprise representatives of investors, hence uncertainty about the composition of the new Supervising Board will remain till investors come in. 2 Weak discipline at Credit Officer and client level: In 2002-03, PRASAC had a poor performance, wherein, due to a total lack of accountability and non-adherence to systems, there were instances of fraud commi.

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