Banks reject proposal by corporates to club ‘fraud’ A/Cs & ‘wilful defaulters’

Banks have come together to reject a proposal by corporate lobbies to club borrowers tagged as ‘fraud’ accounts with ‘wilful defaulters’. Senior bankers, who had discussed the suggestion over the last few weeks, arrived at the decision while preparing a standard operating procedure (SOP) for dealing with borrowers before declaring an account as a fraudulent one.

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