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The Reserve Bank of India (RBI) is concerned that L/C fraud remains a problem in the country's banking system. The RBI is also worried about a wider range of frauds in the banking system and wants banks to take a greater interest in monitoring and investigating irregularities. It is calling on banks to be more vigilant. They should have special committees to monitor and investigate fraud in a proactive way, the RBI said in a written circular to banks. It is concerned that frauds in traditional areas of banking, including L/Cs export finance and guarantees, remains "unabated."