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RBI asks banks to publish photographs of only wilful defaulters
- https://economictimes.indiatimes.com/markets/stocks/news/rbi-asks-banks-to-publish-photographs-of-only-wilful-defaulters/articleshow/54600294.cms#:~:text=%22A%20lending%20institution%20can%20consider%20publication%20of%20photographs,not%20publish%20photographs%20of%20any%20other%20defaulting%20borrower.%22
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Publishing photos of loan defaulters, guarantors legally …
- https://www.firstpost.com/business/publishing-defaulters-guarantors-photos-legally-impermissible-1029971.html
- Finance minister and senior finance ministry officials have been prompting banks to make special efforts for recovery of loans. In view of this, banks have been taking various steps for recovery. One such is publishing photographs of defaulting borrowers and their guarantors along with notice for acquiring assets under Securitisation and Reconstruction of Financial …
Publication of Photographs of Defaulting Borrowers: A ... - Live Law
- https://www.livelaw.in/publication-photographs-defaulting-borrowers-picture-imperfect/
- (RBI/2016-17/71) Therefore, in the garb of reforms, the banks have adopted this new technique of publishing photographs of the defaulters in newspapers to ensure repayment and induce deterrence to ...
Publishing a defaulters' photos in ads is illegal
- https://www.business-standard.com/article/specials/publishing-a-defaulters-photos-in-ads-is-illegal-116112100016_1.html
- A secured-creditor bank cannot publish the photographs of directors and guarantors of a defaulting company in a routine manner for pressurising them to repay the loan. The Sarfaesi Act and related rules do not authorise creditors to do so, said the Calcutta High Court, while severely indicting Punjab National Bank (PNB) for grossly abusing its powers, and …
RBI issue guidelines on publishing photographs of …
- https://www.zeebiz.com/india/news-rbi-issue-guidelines-on-publishing-photographs-of-wilful-defaulters-6591
- The Reserve Bank of India on Thursday, introduced guidelines on publishing of photographs of wilful defaulters for bankers. It was observed by …
Publishing photographs of defaulters in newspapers …
- https://www.thehindubusinessline.com/money-and-banking/Publishing-photographs-of-defaulters-in-newspapers-illegal-Kerala-High-Court/article20648391.ece
- The Kerala High Court has held as arbitrary and illegal the decision of the State Bank of India to publish the photographs of loan defaulters in newspapers. Allowing writ petitions filed by two...
Photographs of defaulting borrower cannot be published in
- https://www.scconline.com/blog/post/2016/11/25/photographs-of-defaulting-borrower-cannot-be-published-in-newspapers-in-routine-manner-for-pressurising-defaulting-borrower-to-repay-dues/
- Photographs of defaulting borrower cannot be published in newspapers in routine manner for pressurising defaulting borrower to repay dues. High Court of Calcutta : Deciding on an important issue relating to the publication of the demand notice under Section 13 (2) of the SARFAESI Act, 2002, apart from being served on the petitioners, was also published in two …
Publishing loan defaulter’s photos in newspapers is illegal
- https://taxguru.in/finance/publishing-loan-defaulters-photos-newspapers-illegal.html
- 1) Whether or not a secured creditor, which has initiated action for enforcement of its security interest in terms of the provisions of the Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002 (hereafter the SARFAESI Act), is entitled to publish the photograph (s) of the defaulting borrower (s)/guarantor (s) in …
Can banks publish photos of defaulters in newspapers?
- https://www.quora.com/Can-banks-publish-photos-of-defaulters-in-newspapers-Answer-with-recent-judgment
- “It has been observed that some lending institutions have been publishing the photographs of defaulters/ guarantors in newspapers,” the RBI said. It said the direction is in view of the sensitivity involved and need to prevent the publishing of photographs of defaulting borrower/ guarantor in an indiscriminate manner.
Beware loan defaulters! Banks to publish photos in …
- https://indianexpress.com/article/news-archive/web/beware-loan-defaulters-banks-to-publish-photos-in-newspapers/
- Executives at many other banks said that they would also publish the photographs and other details of their wilful defaulters in local newspapers circulated in areas of residence of such persons. As per RBI’s regulations,wilful defaulters are mostly those who are found to be engaged in deliberate non-payment of dues despite adequate cash flow and good networth.
Reserve Bank of India - Index To RBI Circulars
- https://www.rbi.org.in/scripts/BS_CircularIndexDisplay.aspx?Id=10619
- In this context, it has been observed that some lending institutions have been publishing the photographs of defaulters/ guarantors in newspapers. In view of the sensitivity involved and need to prevent the publishing of photographs of defaulting borrower/ guarantor in an indiscriminate manner, it has been decided as under: (i) A lending institution can consider …
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