Rising NPAs: A Delhi Court Issues notice to Ministry with RBI

Reserve Bank of India, RBI
Reserve Bank of India, RBI

NEW DELHI: A Delhi Court has issued a notice to the ministry of urban affairs and RBI, remarking that banks give loan without proper verification of the borrower, leading to a situation that has not only increased load of litigation but also malpractices when it comes to recovering it.

According to The Times of India, additional district judge Ajay Goel came across five such pending cases that prompted him to suo motu discuss the issue at hand. He called the practices followed by banks and government authorities to be the cause of the prevalent situation.

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