RBI allows lenders to control collateral after defaults
pre-market1 source ↓written by the desknot a recommendation
The Reserve Bank of India (RBI) has proposed new norms permitting lenders to acquire ownership of immovable assets used as collateral when an account becomes nonperforming. This aims to enhance recovery processes while maintaining transparency. The draft guidelines emphasize that this action is exceptional and should follow legal or contractual remedies invoked by lenders.
Not investment advice. For informational purposes only.