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Indian banks must hear loan defaulters before declaring accounts as fraud - top court - Stock market news

Published: March 27, 2023

NEW DELHI (Reuters) - Indian banks must give defaulters an opportunity to be heard before they classify a loan account as fraud, the Supreme Court ruled on Monday. | 04:53am

Source: marketscreener.com

Related Topics:

Andhra PradeshJustice Dy ChandrachudSiddhi NayakArpan ChaturvediDhanya Ann ThoppilTelangana High CourtGujarat High CourtChief JusticeReserve BankFrauds ClassificationCommercial BanksSelect Fls DirectionsHigh Court

'Can affect CIBIL score': SC says banks must hear loan defaulters before declaring accounts as fraud

Published: March 27, 2023

Banks cannot unilaterally declare an account as fraud without providing the defaulter the right to be heard, the Chief Justice-led bench said

Source: businesstoday.in

Related Topics:

Andhra PradeshTelangana High CourtGujarat High CourtSupreme CourtChief Justice LedReserve BankFrauds ClassificationCommercial BanksSelect Fls DirectionsHigh CourtLoan Defaulter