Rising NPAs: Court issues notice to ministry, RBI | India News – Times of India

NEW DELHI: Issuing a notice to the ministry of urban affairs and RBI, a Delhi court has remarked 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.
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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