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  9. Q2

HPSC HCS 2024 · Question 2 of 100

Consider the following statements regarding recently released Reserve Bank of India regarding Treatment of Wilful Defaulters and Large Defaulters Directions, 2023: 1. The directions are applicable to all regulated entities including NABARD, SIDBI and EXIM Bank. 2. A wilful default borrower needs to be reviewed and finalised within six months of an account being classified as a non-performing asset (NPA). 3. Lender cannot proceed against guarantor without exhausting the remedies against principal debtor. How many of the statements given above are correct?

Economy

  1. A1 only
  2. B1 and 2 onlyCorrect
  3. CAll 1, 2 and 3
  4. D2 and 3 only

Answer: B. 1 and 2 only

Explanation

The RBI's 2023 wilful-defaulter directions cover all regulated entities including NABARD, SIDBI and EXIM Bank, and the identification process must be completed within six months of NPA classification. A lender can proceed against the guarantor without exhausting remedies against the principal debtor, so statement 3 is false.

Source: HPSC HCS Prelims Paper-I held 11 Feb 2024 (freejobalert PDF)

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