Many laws governing the banking industry have also evolved to accommodate rapid changes that are driving innovation at breakneck speed. However, some attitudes among bankers and regulators have lagged behind, and don't reflect the digital age. One such laggard is the 'wilful defaulter' label. This classification is unique to India among all big economies, and it defies logic in the era of data analytics and AI. A wilful defaulter is a borrower with enough money but isn't repaying banks. The dubious category also includes those that siphoned funds and left businesses high and dry.