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.
Based on RBI notification dated 29/09/2016. For any further clarification please refer www.rbi.org.in