Module: | KYC, NPAs, Advances & Investment Valuations
Q167: Which statements regarding the reporting of "Large Defaulters" are correct under the Reserve Bank of India (Treatment of Wilful Defaulters and Large Defaulters) Directions?
1. Banks must submit the list to credit information companies (CICs) monthly.
2. Banks must submit the list to CICs annually.
3. For suit-filed accounts, the ₹1 crore threshold relates to the suit amount.
4. For suit-filed accounts, the threshold relates to the original sanctioned limit.
2. Banks must submit the list to CICs annually.
3. For suit-filed accounts, the ₹1 crore threshold relates to the suit amount.
4. For suit-filed accounts, the threshold relates to the original sanctioned limit.
✅ Correct Answer: A
Banks must submit information to CICs at monthly intervals.
For suit-filed accounts, the ₹1 crore threshold relates to the amount for which suits have been filed.
For suit-filed accounts, the ₹1 crore threshold relates to the amount for which suits have been filed.