Large Defaulter News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Reserve Bank of India (RBI) has proposed stricter regulations for dealing with wilful defaulters. Under these proposed norms, banks and other lenders will be required to scrutinize all accounts with an outstanding amount of Rs 25 lakh or more to determine if the borrower is intentionally avoiding loan repayment.The RBI has released a 'Draft…

The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan. The central bank has issued a 'Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters' on which comments have been invited till October 31. According to Reserve Bank of India (RBI), the draft Master Direction expands the scope for regulated entities which can classify borrowers as wilful defaulters and ...