Monday 15 June 2015

Borrower can't be classified as wilful defaulter without adhering to procedure laid under RBI Circul

Banking Regulation Act: Where Grievance Redressal Committee of respondent bank had not followed procedure as envisaged under RBI Master Circular and not communicated its decision to petitioner forming an opinion that petitioner should be labelled as wilful defaulter, decision of Grievance Redressal Committee was to be set aside

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