In Setback For Banks, Supreme Court Says Hear Borrowers Before Fraud Tag
Monday, 27 March 2023Newsdesk
Declaring an account as fraud leads to serious civil consequences, the Supreme Court noted, ordering that the borrower must be heard.
New Delhi 27 March 2023
As per news report of NDTV, The borrowers must be heard before the banks declare their accounts as fraud, the Supreme Court held today. This comes as a huge setback for banks that follow a central bank circular for classifying frauds.
Source - NDTV
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