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RBI Tell Banks, NBFC to Scrutinize Potential “Wilful Default” Cases in NPA

The Reserve Bank of India (RBI) has issued new guidelines urging banks and Non-Banking Financial Companies (NBFCs) to scrutinize potential ‘wilful default’ cases in non-performing asset accounts with outstanding amounts of Rs 25 lakh and above. These directives, outlined in RBI’s latest Master Direction on the Treatment of Wilful Defaulters and Large Defaulters, will be applicable to all regulated entities…