{"what_this_is":"The machine-readable twin of the BankPulse page for one RBI rulebook. Same points, same dates, same paragraph references as the page a person reads. RBI's own wording is not reproduced here: each point names the RBI paragraph, the character offset into the text BankPulse read and the sha256 of that text, so the claim can be checked against RBI's own document.","schema_version":1,"release_id":"d653cdb0a5","generated_at":"2026-09-15T00:33:59.117975+00:00","id":"md13017","title":"Reserve Bank of India (Urban Co-operative Banks – Treatment of Wilful Defaulters and Large Defaulters) Directions, 2025","document_kind":"Directions","page":"https://bankpulse.ai/rule/md13017","status":"In force","importance":{"code":"MR","label":"MUST READ","weight":"Must read","why":"Binding RBI Directions naming this institution class in the title","layer":"bankpulse_inference"},"applies_to":{"shown":"Urban co-operative banks","class_code":"UCB","from":"the document's own title","layer":"bankpulse_inference"},"dates":{"prid":"md13017","mode":"four_dates_v1","published":{"label":"Published","value":"Nov 28, 2025","stated":true,"why":"The day RBI put this document out."},"effective":{"label":"Starts to apply","value":"","stated":false,"why":"Not stated separately in this document. Read the rule itself before you assume a start date."},"transition":{"label":"Time to get ready","value":"","stated":false,"why":"Cannot be worked out until the day it starts to apply is known."},"deadline":{"label":"Last date to act","value":"","stated":false,"why":"No date to act by was found in this document. Other dates may sit inside single paragraphs."},"sources":{"published":"doc_date in data/highlights/md13017.json","effective":"none held","transition":"none held","deadline":"none held"}},"rbi_source":{"url":"https://rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=13017","document_date":"Nov 28, 2025","read_by_bankpulse":"2026-08-21 16:18:55 UTC","text_sha256":"94925673d22d1a6d7673e7b328a237c3af5eeab17818fc60a1692b138bde2e1e","word_count":6456,"standing_last_checked":"Standing checked on RBI’s Master Directions index, 15 September 2026, 5:58 am IST."},"counts":{"points_shown":63,"points_naming_an_rbi_paragraph":63,"points_stored":63,"actions":0,"amendments":0},"points":[{"n":1,"claim":"md13017-58372f9c","page_group":"Opening paragraphs","stored_section":"THE CORE IDEA","heading":"Warn the other lenders","plain_english":"The rules aim to spread word of a wilful defaulter so no fresh money reaches him.","rbi_paragraph":"Opening paragraphs","rbi_char_offset":2725,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p1","layer":"bankpulse"},{"n":1,"claim":"md13017-426a3dbe","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"Wilful default for UCBs","plain_english":"This paper sets how urban co-operative banks name a wilful defaulter.","rbi_paragraph":"Para 1(1)","rbi_char_offset":3307,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p2","layer":"bankpulse"},{"n":2,"claim":"md13017-1840df20","page_group":"Chapter I. Preliminary","stored_section":"KEY DATES","heading":"Start date","plain_english":"These Directions came into effect on the day RBI issued them.","rbi_paragraph":"Para 1(2)","rbi_char_offset":3480,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p3","layer":"bankpulse"},{"n":3,"claim":"md13017-b9df2082","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Who is covered","plain_english":"These Directions apply to every urban co-operative bank.","rbi_paragraph":"Para 2(1)","rbi_char_offset":3546,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p4","layer":"bankpulse"},{"n":4,"claim":"md13017-4739e354","page_group":"Chapter I. Preliminary","stored_section":"WHO IT APPLIES TO","heading":"Every RBI-regulated lender","plain_english":"The bar on fresh money to a wilful defaulter binds every lender RBI regulates.","rbi_paragraph":"Para 2(1)","rbi_char_offset":4379,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p5","layer":"bankpulse"},{"n":5,"claim":"md13017-2927eaf7","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Two committees, no overlap","plain_english":"No one on the first committee may sit on the second.","rbi_paragraph":"Para 3(1)","rbi_char_offset":9689,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p6","layer":"bankpulse"},{"n":6,"claim":"md13017-2f7ade40","page_group":"Chapter I. Preliminary","stored_section":"THE CORE IDEA","heading":"What siphoning means","plain_english":"Siphoning is using loan money for work that has nothing to do with the borrower.","rbi_paragraph":"Para 3(1)","rbi_char_offset":9777,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p7","layer":"bankpulse"},{"n":7,"claim":"md13017-5c1f9a24","page_group":"Chapter I. Preliminary","stored_section":"WHAT CHANGES","heading":"Still suit filed on appeal","plain_english":"An account stays suit filed while an appeal or execution is still running.","rbi_paragraph":"Para 3(1)","rbi_char_offset":10257,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p8","layer":"bankpulse"},{"n":1,"claim":"md13017-14e668f7","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"21-day reply window","plain_english":"The accused person gets 21 days to reply to a show-cause notice.","rbi_paragraph":"Para 5(4)","rbi_char_offset":15404,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p9","layer":"bankpulse"},{"n":2,"claim":"md13017-b667253a","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"No lawyers at hearing","plain_english":"The accused person cannot bring a lawyer to this in-house hearing.","rbi_paragraph":"Para 5(10)","rbi_char_offset":17919,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p10","layer":"bankpulse"},{"n":3,"claim":"md13017-9427a591","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"Twenty-five lakh triggers a check","plain_english":"Every bad loan of ₹25 lakh and above must be examined for wilful default.","rbi_paragraph":"Para 6(1)","rbi_char_offset":19422,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p11","layer":"bankpulse"},{"n":4,"claim":"md13017-cfb5b3ce","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Six-month decision deadline","plain_english":"Banks must decide wilful defaulter status within six months of the account becoming an NPA.","rbi_paragraph":"Para 6(2)","rbi_char_offset":19757,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p12","layer":"bankpulse"},{"n":5,"claim":"md13017-35b9ca85","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"One-year credit ban","plain_english":"Banks cannot give a wilful defaulter new credit for one year after removal from the list.","rbi_paragraph":"Para 7(3)","rbi_char_offset":21601,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p13","layer":"bankpulse"},{"n":6,"claim":"md13017-28c1cdfb","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"THE CORE IDEA","heading":"It must be deliberate","plain_english":"The default must be planned and meant, to count as wilful.","rbi_paragraph":"Para 5(2)","rbi_char_offset":14930,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p14","layer":"bankpulse"},{"n":7,"claim":"md13017-03f9b8ed","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Show all the material","plain_english":"Everything the show cause notice rests on must be disclosed to the borrower.","rbi_paragraph":"Para 5(4)","rbi_char_offset":15491,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p15","layer":"bankpulse"},{"n":8,"claim":"md13017-8c0a364e","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Reasons must be written","plain_english":"The first committee must put its reasons in writing to the second.","rbi_paragraph":"Para 5(5)","rbi_char_offset":16022,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p16","layer":"bankpulse"},{"n":9,"claim":"md13017-3508c064","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Tell them of the proposal","plain_english":"The borrower must be told of the proposal to class him as a wilful defaulter.","rbi_paragraph":"Para 5(6)","rbi_char_offset":16517,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p17","layer":"bankpulse"},{"n":10,"claim":"md13017-bb8298a4","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"Their reply goes up","plain_english":"The written reply must go to the review committee with the proposal.","rbi_paragraph":"Para 5(8)","rbi_char_offset":16992,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p18","layer":"bankpulse"},{"n":11,"claim":"md13017-4b704f7f","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"A personal hearing is due","plain_english":"The second committee must offer a hearing in person first.","rbi_paragraph":"Para 5(9)","rbi_char_offset":17109,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p19","layer":"bankpulse"},{"n":12,"claim":"md13017-2ec3fb09","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"A reasoned order, served","plain_english":"The review committee must pass a reasoned order and send it to the defaulter.","rbi_paragraph":"Para 5(11)","rbi_char_offset":17995,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p20","layer":"bankpulse"},{"n":13,"claim":"md13017-fdf9a6ad","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"Name the committee members","plain_english":"The notice and the order must say they carry committee approval and name its members.","rbi_paragraph":"Para 5(13)","rbi_char_offset":18440,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p21","layer":"bankpulse"},{"n":14,"claim":"md13017-dc145749","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"Flag the nominee director","plain_english":"A non-whole-time, independent or nominee director so classed must be reported as such.","rbi_paragraph":"Para 5(15)","rbi_char_offset":19016,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p22","layer":"bankpulse"},{"n":15,"claim":"md13017-e556746b","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Look again later","plain_english":"Where no wilful default was seen at first, the account must be re-examined later.","rbi_paragraph":"Para 6(2)","rbi_char_offset":20200,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p23","layer":"bankpulse"},{"n":16,"claim":"md13017-857a45a8","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"A covenant against the listed","plain_english":"Every loan agreement must bar taking a listed defaulter onto the board.","rbi_paragraph":"Para 7(4)","rbi_char_offset":23178,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p24","layer":"bankpulse"},{"n":17,"claim":"md13017-8f82ea4e","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Move to court without delay","plain_english":"Court action to get the money back must be started fast.","rbi_paragraph":"Para 7(5)","rbi_char_offset":24010,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p25","layer":"bankpulse"},{"n":18,"claim":"md13017-924b1c95","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"THE CORE IDEA","heading":"The process must be open","plain_english":"The whole process must be open, so no room is left for choice.","rbi_paragraph":"Para 8","rbi_char_offset":24185,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p26","layer":"bankpulse"},{"n":19,"claim":"md13017-f2538300","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Internal audit checks it","plain_english":"Internal auditors must check that the rules were followed.","rbi_paragraph":"Para 9(1)","rbi_char_offset":24425,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p27","layer":"bankpulse"},{"n":20,"claim":"md13017-8e811285","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Audit Committee reviews cases","plain_english":"The Audit Committee must review wilful default cases from time to time.","rbi_paragraph":"Para 9(2)","rbi_char_offset":24553,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p28","layer":"bankpulse"},{"n":21,"claim":"md13017-b1aa6757","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Find the root cause","plain_english":"That review must find the root causes and fix any gap in the process.","rbi_paragraph":"Para 9(2)","rbi_char_offset":24757,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p29","layer":"bankpulse"},{"n":22,"claim":"md13017-b774e998","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Follow the set procedure","plain_english":"A person may be classed a wilful defaulter only by the procedure set out here.","rbi_paragraph":"Para 5(1)","rbi_char_offset":14583,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p30","layer":"bankpulse"},{"n":23,"claim":"md13017-b292b965","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"THE CORE IDEA","heading":"Look at the whole record","plain_english":"Wilful default is judged on the borrower's track record, not one stray incident.","rbi_paragraph":"Para 5(1)","rbi_char_offset":14813,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p31","layer":"bankpulse"},{"n":24,"claim":"md13017-c8589c60","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"Identification Committee","plain_english":"The bank's Identification Committee first reviews the evidence of wilful default.","rbi_paragraph":"Para 5(3)","rbi_char_offset":15049,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p32","layer":"bankpulse"},{"n":25,"claim":"md13017-d1bb8df7","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO SHOULD ACT","heading":"15-day review window","plain_english":"The accused person gets 15 more days to write to the Review Committee.","rbi_paragraph":"Para 5(7)","rbi_char_offset":16822,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p33","layer":"bankpulse"},{"n":26,"claim":"md13017-4422f42b","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"THE CORE IDEA","heading":"Removal does not end it","plain_english":"Taking a name off the list does not stop criminal proceedings already begun.","rbi_paragraph":"Para 7(1)","rbi_char_offset":20767,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p34","layer":"bankpulse"},{"n":27,"claim":"md13017-13022fef","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"Penalty ends with the tie","plain_english":"The penalties stop applying to an associated firm once the tie is broken.","rbi_paragraph":"Para 7(3)","rbi_char_offset":22334,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p35","layer":"bankpulse"},{"n":28,"claim":"md13017-bb280f73","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHO IT APPLIES TO","heading":"Associated firms are caught","plain_english":"Every firm a wilful defaulter runs or sits on the board of is tied to him.","rbi_paragraph":"Para 7(6)","rbi_char_offset":23008,"weight":"BACKGROUND","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p36","layer":"bankpulse"},{"n":29,"claim":"md13017-83ef32ba","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"Go straight to the guarantor","plain_english":"On default the lender may proceed against the guarantor without first exhausting the borrower.","rbi_paragraph":"Para 10(2)","rbi_char_offset":25232,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p37","layer":"bankpulse"},{"n":30,"claim":"md13017-48822e97","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"WHAT CHANGES","heading":"A refusing guarantor is caught","plain_english":"A guarantor who refuses the demand may himself be classed a wilful defaulter.","rbi_paragraph":"Para 10(4)","rbi_char_offset":25562,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p38","layer":"bankpulse"},{"n":31,"claim":"md13017-2f6f2538","page_group":"Chapter III. Treatment of Wilful Defaulters","stored_section":"THE CORE IDEA","heading":"Judge each company alone","plain_english":"In a group, each borrowing company is judged on its own repayment record.","rbi_paragraph":"Para 10(5)","rbi_char_offset":25794,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p39","layer":"bankpulse"},{"n":1,"claim":"md13017-cbce2fac","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"One crore includes unapplied interest","plain_english":"Unapplied interest counts towards the ₹1 crore threshold.","rbi_paragraph":"Para 11(2)","rbi_char_offset":26765,"weight":"MUST KNOW","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":"Suppose the principal outstanding is ₹98 lakh and the unapplied interest is ₹4 lakh. Together that is ₹1.02 crore. 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Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHO SHOULD ACT","heading":"Investigate before you sell","plain_english":"A defaulted loan of ₹25 lakh and above must be investigated before it is transferred.","rbi_paragraph":"Para 14(1)","rbi_char_offset":28920,"weight":"MUST KNOW","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p42","layer":"bankpulse"},{"n":4,"claim":"md13017-66904b03","page_group":"Chapter IV. 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Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHO SHOULD ACT","heading":"Tell the buyer","plain_english":"The buyer must be told what was reported and must report it onward.","rbi_paragraph":"Para 14(3)","rbi_char_offset":29610,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p44","layer":"bankpulse"},{"n":6,"claim":"md13017-05a7eaa3","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHO SHOULD ACT","heading":"Check the director details","plain_english":"Director details sent to the bureaus must be checked against the Registrar's database.","rbi_paragraph":"Para 16(2)","rbi_char_offset":32584,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p45","layer":"bankpulse"},{"n":7,"claim":"md13017-8c38df40","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHO SHOULD ACT","heading":"Report failed guarantors","plain_english":"Guarantors who do not honour an invoked guarantee must be reported to the bureaus.","rbi_paragraph":"Para 17","rbi_char_offset":32782,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p46","layer":"bankpulse"},{"n":8,"claim":"md13017-1ef25ade","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"Full names of directors","plain_english":"The full names of directors must be reported so the person can be identified.","rbi_paragraph":"Para 18(1)","rbi_char_offset":33224,"weight":"DO IT","role":"Board","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p47","layer":"bankpulse"},{"n":9,"claim":"md13017-447e1ad2","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"Suits go by sued amount","plain_english":"For a suit filed account the threshold is the amount sued for.","rbi_paragraph":"Para 11(2)","rbi_char_offset":26884,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p48","layer":"bankpulse"},{"n":10,"claim":"md13017-5c442e9c","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"Off the list when paid","plain_english":"A name comes off the list only when the compromise amount is paid in full.","rbi_paragraph":"Para 13(1)","rbi_char_offset":28119,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p49","layer":"bankpulse"},{"n":11,"claim":"md13017-d36e9ea3","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"Part payment keeps the name","plain_english":"Part payment does not take the name off, even below the threshold.","rbi_paragraph":"Para 13(2)","rbi_char_offset":28250,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p50","layer":"bankpulse"},{"n":12,"claim":"md13017-f76863ea","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"Cancelled settlement, revised figure","plain_english":"If a deal is called off, the new sum owed is what gets reported.","rbi_paragraph":"Para 13(4)","rbi_char_offset":28810,"weight":"BACKGROUND","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p51","layer":"bankpulse"},{"n":13,"claim":"md13017-d606f2dd","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"THE CORE IDEA","heading":"Selling is not recovery","plain_english":"Transferring a defaulted loan does not count as recovery against the threshold.","rbi_paragraph":"Para 14(4)","rbi_char_offset":29809,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p52","layer":"bankpulse"},{"n":14,"claim":"md13017-26920375","page_group":"Chapter IV. Reporting of Wilful Defaulters and Large Defaulters","stored_section":"WHAT CHANGES","heading":"New owner, clean slate","plain_english":"The bar lifts once a rescue plan puts the firm in new hands.","rbi_paragraph":"Para 15(3)","rbi_char_offset":31234,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p53","layer":"bankpulse"},{"n":1,"claim":"md13017-5f693595","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"THE CORE IDEA","heading":"Do not lean on auditors","plain_english":"A lender must not go by the auditor's paper alone.","rbi_paragraph":"Para 19(2)","rbi_char_offset":35680,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p54","layer":"bankpulse"},{"n":2,"claim":"md13017-aa2c1b6a","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHO SHOULD ACT","heading":"Report the auditor too","plain_english":"A complaint against an auditor goes to the Reserve Bank and the banks' association.","rbi_paragraph":"Para 20(2)","rbi_char_offset":36745,"weight":"MUST KNOW","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p55","layer":"bankpulse"},{"n":3,"claim":"md13017-494d6661","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHO SHOULD ACT","heading":"Check identical names yourself","plain_english":"Where two names are the same, the lender must check who is who on its own.","rbi_paragraph":"Para 19(1)","rbi_char_offset":34180,"weight":"DO IT","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p56","layer":"bankpulse"},{"n":4,"claim":"md13017-d4c0efd2","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHO SHOULD ACT","heading":"Watch where the money goes","plain_english":"The end use of funds must be watched and a certificate taken from the borrower.","rbi_paragraph":"Para 19(2)","rbi_char_offset":34360,"weight":"DO IT","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p57","layer":"bankpulse"},{"n":5,"claim":"md13017-ed83f74d","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHAT CHANGES","heading":"End use in the policy","plain_english":"End use checks must form part of the lender's own loan policy document.","rbi_paragraph":"Para 19(2)","rbi_char_offset":34822,"weight":"DO IT","role":"Compliance","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p58","layer":"bankpulse"},{"n":6,"claim":"md13017-ec06ab1a","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHO SHOULD ACT","heading":"Hear the auditor first","plain_english":"The auditor must be given a hearing before any such report is made.","rbi_paragraph":"Para 20(2)","rbi_char_offset":37005,"weight":"DO IT","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p59","layer":"bankpulse"},{"n":7,"claim":"md13017-d9b1c1eb","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHAT CHANGES","heading":"A false certificate means court","plain_english":"A false paper from the borrower may take him to court.","rbi_paragraph":"Para 19(2)","rbi_char_offset":34533,"weight":"BACKGROUND","role":"Branch","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p60","layer":"bankpulse"},{"n":8,"claim":"md13017-56d475bd","page_group":"Chapter V. Preventive Measures and Role of Auditors","stored_section":"WHAT CHANGES","heading":"A caution list of auditors","plain_english":"The banks' association circulates a caution list of such auditors to lenders.","rbi_paragraph":"Para 20(3)","rbi_char_offset":37220,"weight":"BACKGROUND","role":"Audit","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p61","layer":"bankpulse"},{"n":1,"claim":"md13017-43f4a249","page_group":"Chapter VI. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Older rules cancelled","plain_english":"This document cancels the older wilful-defaulter rules for Commercial Banks.","rbi_paragraph":"Para 22(1)","rbi_char_offset":39702,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p62","layer":"bankpulse"},{"n":2,"claim":"md13017-30fee77a","page_group":"Chapter VI. Repeal and Other Provisions","stored_section":"WHAT IT REPLACES","heading":"Old cases continue","plain_english":"Penalties and legal cases already started under the old rules still continue.","rbi_paragraph":"Para 22(2)","rbi_char_offset":40185,"weight":"BACKGROUND","role":"All staff","team":null,"products_covered":[],"products_excluded":[],"bankpulse_example":null,"anchor":"https://bankpulse.ai/rule/md13017#p63","layer":"bankpulse"}],"actions":[],"amendments":[],"layers":{"rbi_source":"Facts taken from RBI's own document.","bankpulse":"BankPulse's plain-English summary of RBI's document.","bankpulse_inference":"BankPulse's own inference, not stated by RBI."},"rbi_wording_not_included":"By design. BankPulse never republishes RBI's exact sentences. Use rbi_paragraph with rbi_source.url to read RBI's own words.","terms":"BankPulse's plain-English summaries are BankPulse's own work. The underlying regulation is the Reserve Bank of India's. Always check the RBI document named in rbi_source before acting."}