The cabinet yesterday cleared the draft Bank Company (Amendment) Act, 2023 that would usher in major consequences for habitual loan defaulters and restrict the influence of families on the bank board.

A new customer segment – the “first-time defaulter” – has emerged in the past two years and is presenting challenges for banks, according to a survey examining the future of consumer lending conducted ...

The Reserve Bank of India on Tuesday said identification of wilful default should be made keeping in view the track record of the borrowers and should not be decided on the basis of isolated ...

Recently, Rattan Dhillon of Chandigarh, a State Bank of India (SBI) credit cardholder, brought to light an aggressive recovery message he had received from an SBI agent for a minor unpaid credit card ...

The restrictions will remain in force for six months. The Reserve Bank of India (RBI) has proposed that lenders should label defaulting borrowers as ‘wilful defaulters’ within six months of an account ...

India's top 25 wilful defaulters owed a total of Rs 58,958 crore to various lenders as of March 31. A wilful defaulter is an entity that has defaulted in meeting its payment or repayment obligations ...

There is good news for the clients of defaulter brokers. SAT made an important decision on broker default, said, 'If there is a deal on the exchange, then the claim will be made. If there is a ...