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Whilst the Draft Directions are a step in the right direction towards consolidation of legal framework governing WDs, few of the suggested changes may have sweeping undesired implications. ....
RBI proposes 6-month deadline for banks to identify wilful defaulters #newkerala(107350) newkerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newkerala.com Daily Mail and Mail on Sunday newspapers.
While expanding the scope for regulated entities (REs) which can classify borrowers as wilful defaulters, broadening the definition of wilful default, and refining the identification process, the draft master directions issued by Reserve Bank of India (RBI) mandates a review and finalisation on wilful default aspects within six months after the loan is classified as a non-performing asset (NPA). ....