Preparations for changes in rules related to bank fraud, banks demand from RBI

In case of a bank defaulter, not only the borrower but also the creditworthiness of the bank gets discounted.

In the event of a bank defaulter, not only the borrower but also the creditworthiness of the bank gets discounted. Its loss reaches more people and the borrowers also have to face problems. The reason for this is that in such a situation, banks start shying away from giving loans.

bank defaulter (Bank Defaulter) being a Loan (Loan) Not only the taker but the bank (Bank) There is also a discount on its credibility. Its loss reaches more people and the borrowers also have to face problems. The reason for this is that in such a situation, banks start shying away from giving loans. But now change can be seen in this. If all goes well then bank fraud in the coming days (Bank Fraud) The rules may change. Actually, banks have demanded a change in the definition of fraud from RBI. Banks say that there is a need to change the rules after complaints in fraud cases.

According to banks, if there is a complaint of fraud against a company, all its transactions come under suspicion. This raises questions on the whole company. In such a situation, even if any other bank wants to give loan to that company, it is not able to give.

What do the current rules say?

Now let’s understand the existing rules. If right now a fraud of Rs 300 crore is detected in a company, whose total borrowing from 12 banks is Rs 15,000 crore, then all the banks see the entire borrowing as ‘fraud’ and initiate criminal proceedings.

In such a case, banks want RBI to allow them to limit frauds up to Rs 300 crore only. Even the banks which have not defaulted by the company will also have to grade the company.

Banks will hold a meeting with RBI regarding this. Based on the forensic report, the borrower’s account is declared as a non-performing asset in case of fraud. Even if the matter of fraud cannot be proved, the forensic report still points out inaccuracies. Even if the loan is changed, it is still a fraud.

Apart from this, let us tell you that the central bank has asked people to be alert. It has also asked people not to fall into any kind of frauds and scams, which can be done by people disguising themselves as employees of Reserve Bank of India. The Reserve Bank has said that it does not maintain any account for any person.

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(Story: Saurabh Dixit)

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