Master Direction on Treatment of Wilful Defaulters and Large Defaulters
This Master Direction on wilful defaulters serves as a comprehensive guideline delineating the regulatory framework and procedures for classification of borrowers as wilful defaulters. This directive plays a crucial role in maintaining the integrity of the financial system by outlining the measures and consequences for those borrowers who deliberately default on their financial obligations.
2. The Master Direction was released for comments from stakeholders and members of the public in September 2023. Based on feedback received, the final Reserve Bank of India (Treatment of Wilful Defaulters and Large Defaulters) Directions, 2024 are enclosed herewith.
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