RBI proposes NBFCs can tag wilful defaulters
Thursday, 21 September 2023
The Reserve Bank of India (RBI) has proposed significant changes in the rules regarding wilful defaulters, including allowing non-banking financial companies (NBFCs) to classify such borrowers. Under the new proposal, borrowers with an outstanding loan of Rs 25 lakh or more, unpaid for six months, could be classified as defaulters and barred from joining any company board.
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