{"id":5233,"date":"2016-09-30T09:33:09","date_gmt":"2016-09-30T04:03:09","guid":{"rendered":"http:\/\/www.kashmir.today\/?p=5233"},"modified":"2016-09-30T09:33:09","modified_gmt":"2016-09-30T04:03:09","slug":"banks-cant-publish-defaulters-photo-randomly-newspapers-rbi","status":"publish","type":"post","link":"https:\/\/kashmir.watch\/?p=5233","title":{"rendered":"Banks can&#8217;t publish defaulters&#8217; photo randomly in newspapers: RBI"},"content":{"rendered":"<p><em><strong>While asking the banks not to indiscriminately publish photographs of defaulters and guarantors in newspapers, it directed the lending institutions to formulate a policy in this regard.<\/strong><\/em><\/p>\n<p>RBI today said lenders can publish photographs of only those borrowers in newspapers who have been declared wilful defaulters as per the central bank&#8217;s guidelines.<br \/>\nWhile asking the banks not to indiscriminately publish photographs of defaulters and guarantors in newspapers, it directed the lending institutions to formulate a policy in this regard.<\/p>\n<p>The policy should clearly sets out the criteria based on which the decision to publish the photographs of a person will be taken by them so that the approach is neither discriminatory nor inconsistent.<br \/>\nThe Reserve Bank said that it has been observed that some lending institutions have been publishing the photographs of defaulters and guarantors in newspapers.<br \/>\nIn view of the &#8220;sensitivity involved and need to prevent&#8221; the publishing of photographs of defaulting borrower\/ guarantor in an indiscriminate manner, the RBI said photographs of only those borrower who have been declared as wilful defaulters could be published.<\/p>\n<p>&#8220;A lending institution can consider publication of the photographs of only those borrowers, including proprietors\/ partners \/directors \/ guarantors of borrower firms\/ companies, who have been declared as wilful defaulters following the mechanism set out in the RBI instructions&#8230;,&#8221; it said.<br \/>\nThis will not apply to the non-whole time directors who are exempted from being considered as wilful defaulters unless the special conditions are satisfied.<br \/>\nFurther, the lending institutions should formulate a policy with the approval of their Board of Directors which clearly sets out the criteria based on which the decision to publish the photographs of a person will be taken by them so that the approach is neither discriminatory nor inconsistent.<br \/>\n&#8220;The lending institutions shall not publish photographs of any other defaulting borrowers,&#8221; the RBI added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While asking the banks not to indiscriminately publish photographs of defaulters and guarantors in newspapers, it directed the lending institutions to formulate a policy in this regard. RBI today said lenders can publish photographs of only those borrowers in newspapers who have been declared wilful defaulters as per the central bank&#8217;s guidelines. While asking the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/5233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5233"}],"version-history":[{"count":0,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/5233\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}