RBI denies banks extra time to label dodgy borrowers as willful defaulters

RBI has shortened the timeframe for classifying wilful defaulters. Banks now have six months to complete the process. This decision aims to prevent asset value decline. The process involves internal committees and hearings with borrowers. Borrowers deliberately delaying proceedings prompted the RBI’s action. This move protects lenders and maintains financial stability.

More To Explore

Work starts on $2-billion Tata Capital IPO

The conglomerate recently gave Kotak Investment Banking officials the go-ahead to commence the process after a meeting, they said. It plans to appoint additional bankers

December 24, 2024

Advertiser Disclosure

Great-investor.com helps users across the globe to find out The latest news, Guides, and Info about finance and investments. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

Disclaimer

It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While great-investor.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by great-investor.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information

Top10 International FZ LLE | 17th Floor, Creative Tower | 4422 | Fujairah | TRN: 100608946800003