Question

What is the minimum amount of loan outstanding of a borrower or a guarantor who has committed wilful default , to be known as a Wilful defaulte r?

Q: Answer-What is the minimum amount of loan outstanding of a borrower or a guarantor who has committed wilful...

wilful defaulter means i. a borrower or a guarantor who has committed wilful default and the outstanding amount is 25 lakh and above , or as may be notified by Reserve Bank of India from time to time, and ii. where the borrower or a guarantor committing the wilful default is a company, its promoters and the director s, subject to the provisions of para 4 1 c of the RBI T reatment of Wilful Defaulters and Large Defaulters Directions, 2024 . In case of entity other than companies, persons who are in charge and responsible for the management of the affairs of the entity.