Wilful Default News Today

The Reserve Bank of India (RBI) is considering making in-person hearings with borrowers mandatory for lenders dealing with potential wilful defaulters, in an effort to increase chances of recovery at an early stage.

Large defaulters are those that have an outstanding amount of Rs 1 crore and above. According to RBI data, there were about 16,000 cases of wilful default involving nearly Rs 3.5 lakh crore at the end of 2022.