February 14, 2026 12:51 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Rs 5,000 to women ahead of Tamil Nadu polls! Vijay slams Stalin, says: ‘take the money, blow the whistle’ | Modi congratulates Tarique Rahman as BNP clinches majority in Bangladesh polls | Bangladesh Polls: Tarique Rahman-led BNP secures 'absolute majority' with 151 seats in historic comeback | BJP MP files notice to cancel Rahul Gandhi's Lok Sabha membership, seeks life-long ban | Arrested in the morning, out by evening: Tycoon’s son walks free in Lamborghini crash case | ‘Why should you denigrate a section of society?’: Supreme Court pulls up ‘Ghooskhor Pandat’ makers | Bangladesh poll manifestos mirror India’s welfare schemes as BNP, Jamaat bet big on women, freebies | Drama ends: Pakistan makes U-turn on India boycott, to play T20 World Cup clash as per schedule | ‘Won’t allow any impediment in SIR’: Supreme Court pulls up Mamata govt over delay in sharing officers’ details | India-US trade deal: ‘Negotiations always two-way’, says Amul MD amid farmers’ concerns

Penalties for wilful defaulters strengthened: RBI Governor

| | Mar 12, 2016, at 08:06 pm
#RBI Governor # Vijay Mallya # Reserve Bank of India # Raghuram Rajan
New Delhi, Mar 12 (IBNS) Reserve Bank of India Governor Raghuram Rajan on Saturday said penalties for wilful defaulters of banks have been strengthened.
Amid the Vijay Mallya controversy over his exit from India and huge debts to the banks which is worth over Rs 9000 crore, the RBI governor said "there is a well defined process to define wilful defaulters." 
 
 Rajan addressed the media with Union Finance Minister Arun Jaitley and Minister of State for Finance Jayant Sinha  after the RBI board meeting here. 
 
Rajan also lauded the government's efforts to consolidate the PSU banks calling the plan "sound". 
 
 He also said that the fiscal deficit target for the next fiscal year is a comfort for the RBI.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Nirmala Sitharaman presents Budget 2025
Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am
In Images: Glimpses from Bengali film Fatafati's premiere
In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm