Terming this as a ``temporary measure'' taken in the context of Ketan Parekh's Rs 130-crore pay-order scandal, the bank has also set bank-wise limits for discounting instruments of other banks, both public sector, private and foreign.

According to a top official, the bank has formed a core team to devise plans to vigorously apply all the risk-managment norms in its day-to-day operations.

Asserting that the stock market branch of BoI had agreed to make payment to Ketan Parekh only after enquiring about his financial position vis-a-vis Madhavpura, a top official of the bank said that the same branch had cleared a lot of other pay-orders presented by the stockbroker from other leading banks including Stanchart and Global Trust Bank on the same day.

The failure to honour such pay-orders by MMCB can, at best, be termed as ``an accident'', something which has to be understood in the proper context, he said.

Meanwhile, the inspection team of the Reserve Bank of India (RBI) has completed its four-day investigation into the role of the BoI branch in Ketan Parekh's Rs 130 crore pay-order scandal.

``RBI's stand on the issue will