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CIC directs RBI to provide names of big loan defaulters

NEW DELHI: The Central Information Commission (CIC) has directed the Reserve Bank of India (RBI) to divulge the checklist of big mortgage defaulters that the central bank had despatched to lenders for solution.

The CIC’s directive came while selecting a plea via Lucknow-based activist Nutan Thakur, who had based her RTI utility on some media experiences that the RBI deputy governor Viral Acharya in a 2017 lecture had mentioned accounts of some mortgage defaulters were despatched to banks for solution.

“The IAC (interior advisory committee) has really helpful that the RBI should initially focal point on wired belongings that are large, subject matter and aged, in that they have got eluded a viable solution plan in spite of being classified as NPAs (non-performing belongings) for an important period of time,” Acharya had mentioned.

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The RBI had accordingly directed banks to file insolvency programs towards 12 large accounts comprising about 25% of the overall NPAs, he had mentioned.

“The RBI has now recommended the banks to get to the bottom of probably the most other accounts via December 2017, if the banks fail to place in position a viable solution plan throughout the timelines, these instances also can be referred for solution underneath the IBC (Insolvency and Bankruptcy Code),” the RBI deputy governor had mentioned.

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In her RTI utility, Thakur wanted to understand from the RBI the checklist of mortgage defaulters that was referred to within the lecture and the data of be aware sheets and correspondence referring to these accounts. The RBI had refused to give you the details to her via calling them “confidential data”, following which she approached the CIC.

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