Back to Career News

Law Agencies Want Banks to Issue Alerts on Defaulters in Advance

November 08, 2018

Law Agencies Want Banks to Issue Alerts on Defaulters in Advance
Learning lessons from defaulter tycoons like Mehul Choksi, Vijay Mallya, etc. who fled the country to escape from their debt repayment obligations, law enforcement agencies are looking to create a system in which the banks can send alerts on suspicious offenders in advance. 

For instance, they can issue look-out circulars for certain individuals so that they don’t flee from the country before any action can be taken against them.

 Photo credit: kenteegardin on Visual Hunt / CC BY-SA

Recommended for you ...

Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners
Axis Bank and Mastercard Launch Premium Credit Card for Small Business Owners

September 26, 2024

Banks Report Over 15% Growth in New Credit Card Additions: RBI Data
Banks Report Over 15% Growth in New Credit Card Additions: RBI Data

September 26, 2024

National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank
National Company Law Tribunal (NCLT) Approves Merger of IDFC and IDFC First Bank

September 25, 2024

Chat on WhatsApp