Question
As per RBI guidelines, a “wilful defaulter” refers
to a borrower or guarantor who has committed wilful default, provided the outstanding amount is at least how much?Solution
• RBI defines a wilful defaulter as a borrower or guarantor who has deliberately defaulted despite having the capacity to repay, or who has diverted/misutilized funds. • The minimum threshold outstanding amount to classify a borrower/guarantor as a wilful defaulter is ₹25 lakh and above, or such limit as notified by RBI from time to time. • In case of companies, the promoters and directors can also be tagged as wilful defaulters if they are found responsible. Similarly, in non-corporate entities, persons managing the affairs of the entity are held accountable. Thus, the outstanding amount must be ₹25 lakh or more for the wilful defaulter tag to apply.
Consider the following statement/s about Companies Act 2013:
1. It received presidential assent on 29 August 2013.
2. It superseded the Co...
The Ministry of Women and Child Development has released a centrally-sponsored scheme_____for the children to secure a healthy and happy childhood for ...
At what yearly interest rate does the 'e-Kisan Upaj Nidhi' platform permit farmers to store their produce at any registered WDRA warehouse for up to six...
Which of the two states has topped the Goods and Service Tax list for the year 2017 - 2022?
Who clinched the gold medal at the Asian Marathon Championships in 2024?
Who has been conferred with the prestigious ‘Dr Kalam Seva Puraskar’ for 2022?
Where is India's largest defence equipment exhibition, Defence Expo, being organized, focusing on Atmanirbhar Bharat Yojana?
When is World Cerebral Palsy Day celebrated every year?
National Women's Day is observed to commemorate whose birth anniversary?
According to population figures from July 2011, has the child sex ratio increased or decreased in rural areas compared to urban areas?
Relevant for Exams:
