Wilful defaulter Subject: Economy Context: Banks have added Rs 38,976 crore from 662 borrower accounts as willful defaulters during the 12 months ended December 2020 when the Covid pandemic hit the country’s financial system. Concept: As per the Reserve Bank of India’s (RBI) classification, a ‘wilful default’ would be deemed to have occurred if the […]

    Wilful Defaulter Topic: Economy Context: Amid Covid effect, bank steps, wilful defaults rise Rs 38,976 crore Concept: As per the Reserve Bank of India’s (RBI) classification, a ‘wilful default’ would be deemed to have occurred if the borrower has defaulted in meeting their repayment obligations to the lender even when they have the […]