New Delhi: Passport details of borrowers taking loans of Rs 50 crore and more have been made mandatory to ensure a swift action in case of fraud and prevent fraudsters from fleeing the country, a top official said on Saturday.
Passport details will help banks to take timely action and inform the relevant authorities to prevent fraudsters from fleeing the country.
“Next step on clean and responsible banking. Passport details must for loans above Rs 50 crore. Step to ensure quick response in case of fraud,” Financial Services Secretary Rajeev Kumar tweeted.
