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Wilful Defaults Become Bank Boards’ Responsibility

2023 • 14min • News • Business

Informative

Published On: June 12, 2023 - According to the Reserve Bank of India (RBI), bank boards are required to establish a clear definition of willful defaulters and assume responsibility for treating non-performing loans as compromised settlements or technical write-offs, even in the presence of criminal proceedings against potential defaulters.