scorecardresearchSuffering from NPAs, banks now want RBI to redefine the word 'fraud'

Suffering from NPAs, banks now want RBI to redefine the word 'fraud'

Updated: 16 May 2022, 09:19 AM IST
TL;DR.
The rigid definition of “fraud accounts” has ruined more borrowers to an extent bigger than the size of the fraud itself. Banks have urged the RBI to put in place a new meaning, thus, allowing borrowers to be heard before lenders put all their information in the public domain, thus, tarnishing their names and ruining their businesses. 
Reserve Bank of India (RBI)

Reserve Bank of India (RBI)