Check for 'wilful default' in NPA accounts exceeding Rs 25 lakh: RBI to banks

The RBI released new guidelines for banks and NBFCs to tackle wilful defaulters, mandating scrutiny of accounts with outstanding debts of Rs 25 lakh and above. Lenders have a six-month window to classify a borrower as a wilful defaulter. No additional credit will be given to these defaulters for a year post removal from the list.
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