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Guarantor also a defaulter: RBI
Highlights
Guarantor also a defaulter, strict rules from RBI. Anyone who gets a stamp of defaulter will not be eligible for any loans. RBI has tightened the rules to ensure easy recovery of loans.
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Hyderabad: The Reserve Bank of India has made strict rules and regulations with respect to recovery of loans. According to the rules, if a person borrows money and fails to repay the amount, then the Guarantor will be considered a wilfull defaultor.
Anyone who gets a stamp of defaulter will not be eligible for any loans. RBI has tightened the rules to ensure easy recovery of loans.
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