Key Points
Mumbai: Lenders will seek advice from the Reserve Bank of India (RBI) on shielding the identities of officers who spot wilful defaulters and build cases against errant borrowers, said bankers aware of the development..
A recent High Court order has directed banks to name the employees on committees identifying a borrower as a wilful defaulter...
The division bench order about Milind Patel, director of IFIN versus Union Bank of India, also asked the bank to provide the petitioner full access to the relevant documents and material on record..
The RBI has issued draft guidelines on the process that banks must follow in tagging a borrower as a wilful defaulter, and final guidelines have yet to be issued...
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