July 04, 2026 04:27 am (IST)

Make this your homepage

All Finance

'Why can't citizens protest against the government? They are being made slaves by slapping cases': Bombay HC slams Mumbai Police, quashes activist's externment | 'First he cheats on me...': Siya Goyal's old pub video goes viral amid probe into fiancé Ketan Agarwal's alleged murder | Ronaldo's goal, Ramos' last-gasp winner send Portugal past Croatia, set up Spain clash | India-US trade deal almost done! Piyush Goyal hints at breakthrough | Ram Mandir donation scam: Champat Rai points finger at his own driver | PM Modi welcomes Japanese PM Sanae Takaichi as India-Japan ties enter a new era | 'Not an isolated incident': India slams Pakistan after 125-year-old historic Gurdwara is demolished | Ram Mandir donation theft: Six accused were employed by Varanasi-based security firm, probe reveals | Ayodhya Ram Temple donation theft: Probe says majority of money was allegedly stolen during Kumbh Mela | Commercial LPG price slashed by Rs 183.50 from July 1; check new rates in Delhi, Mumbai, Kolkata and Chennai

Penalties for wilful defaulters strengthened: RBI Governor

India Blooms News Service | | Mar 12, 2016, at 08:06 pm

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.

#RBI Governor # Vijay Mallya # Reserve Bank of India # Raghuram Rajan

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.

India
International

Related Images

Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm

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 May 13, 2023, at 08:39 pm