What does Harsha Mehra have to do with this, sir?
According to the RBI,
direct bank-to-bank transfers are a lengthy process.
Working this through a broker's account would be easy.
That broker is Harsha Mehra for our bank.
For example, to lend money to Katari Bank,
Magadha Bank transfers the amount to Harsha's account.
Harsha in turn transfers the amount to the Katari Bank.
When Katari Bank repays the loan,
the amount is first deposited into Harsha's account,
Harsha will then pay the money back to us.
For this, he's given a commission of 0.001 percent of the transaction.