Passport details must for loans of Rs 50cr and above: Govt

Updated On : 10 Mar,2018 | 22:15 PM
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.

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