<h1>Govt mandates Public Sector Banks to collect passport details for loans of Rs. 50 crore+ to enhance transparency.</h1> The government has instructed all Public Sector Banks to obtain certified copies of passports from promoters, directors, and authorized signatories of companies receiving loans of Rs. 50 crore or more. This measure, communicated in a letter dated March 6, 2018, aims to facilitate the provision of passport details to authorities if required. For existing loans of the same amount, banks are advised to collect passport details. If individuals do not possess a passport, a declaration confirming the absence of one will suffice. This information was provided by the Minister of State for Finance in a written response to the Rajya Sabha.