Question
According to RBI notification, lenders would have to examine all aspects relating to wilful default on accounts. What is the specified outstanding dues amount mentioned in the notification?
Solution
The Reserve Bank of India (RBI) has notified that lenders would have to examine all aspects relating to wilful default on accounts with outstanding dues of Rs 25 lakh or more and identify wilful defaulters within six months of a loan becoming a non-performing asset (NPA).
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