Banks to Hunt Wilful Defaulters

Published On: July 31, 2024 - If you have defaulted on a loan amount exceeding Rs 25 lakh, Banks will be onto you, as per the Reserve Bank of India's (RBI) latest guidelines. The RBI now mandates that banks and other lenders scrutinize non-performing assets (NPAs) over Rs 25 lakh to identify wilful defaulters. These new rules, aimed at tightening the screws on those who avoid repaying their loans. What are the new RBI's guidelines about what qualifies as a wilful default? News9Live explains.