Question
What is the minimum amount of loan outstanding of a
borrower or guarantor, for them to be classified as a Wilful Defaulter?Solution
As per the RBI (Treatment of Wilful Defaulters and Large Defaulters) Directions, 2024: • A wilful defaulter is a borrower or guarantor who has deliberately defaulted despite having the ability to repay. • The minimum threshold for classification is ₹25 lakh and above in outstanding loans (or as may be revised by RBI from time to time). • For companies, the liability extends to its promoters and directors, while for non-corporate entities, it extends to persons in charge of management. • This framework aims to deter willful mismanagement and fraud, ensuring accountability in the credit system. Thus, the threshold amount is ₹25 lakh.
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