Thursday, September 29, 2016

Publishing of photographs of wilful defaulters

A lending institution can consider publishing the photographs of only those borrowers, who have been declared as wilful defaulters as per RBI directives.

This shall not apply to the non-whole time directors who are exempted from being considered as wilful defaulters except under special circumstances.

Banks shall formulate a policy which clearly sets out the criteria based on which the decision to publish the photographs will be taken.

The lending institutions shall not publish photographs of any other defaulting borrowers.
Based on RBI notification dated 29/09/2016. For any further clarification please refer