Sat, Mar 12, 2016, 04:41 PM
Reserve Bank of India (RBI) Governor Raghuram Rajan called for penalising of willful defaulters. Streamlining the process of defining wilful defaulters should be undertaken, he said. Strict action against such willful defaulters is the need of the hour. Also we should indulge in a broad vision expansion, which could help banks to process loans. He was speaking in the context of Vijay Mallya leaving the country with a history of defaulting.