What are the Penal Measures for willful defaulters?
Oct31

What are the Penal Measures for willful defaulters?

Consequences of wilful default and penal measures for wilful defaulters are explained in this article.  [You should consider reading Meaning of wilful defaulters and procedure for identification of wilful defaulters]    What are the Penal Measures for willful defaulters? Names of wilful defaulters are made public. List of wilful defaulters is hosted on CIBIL’s website (you can access the database from here). By making names...

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Wilful Defaulters – RBI guidelines
Oct31

Wilful Defaulters – RBI guidelines

You must have come across the term ‘Wilful Defaulter’ or if you have worked on credit desk of a bank, you should have heard ‘Wilful Defaulter List’. So, who is a wilful defaulter, where can you find wilful defaulter list and the procedure and mechanism to identify wilful defaulters is explained in this article.   What is Wilful Default? As per RBI guidelines, a ‘wilful default’ would be deemed to have...

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Publish photographs of only Wilful Defaulters – RBI
Oct02

Publish photographs of only Wilful Defaulters – RBI

Reserve Bank of India, on 29th September, 2016 directed banks and financial institutions to publish photographs of only wilful defaulters in the newspapers. RBI directed that photographs of other defaulters, who have not been declared as wilful defaulters are not to be published by banks and financial institutions. You may like: Expected DA for November 16 to January 2017 – Updated on 30.09.2016 The guidelines regarding penal measures...

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