https://www.taxtmi.com/news?id=22145 A regulatory package requires banks to apply a structured fraud detection and reporting framework for large NPAs, initiate wilful default proceedings upon detection, obtain inter-agency borrower intelligence, and strengthen due diligence by collecting certified identity documents and publishing wilful defaulter information under board-approved policies; administrative controls such as rotational transfers and Look Out Circular requests are mandated. Complementary measures include an independent audit regulator to enforce audit standards, and a statutory regime enabling attachment and disentitlement of fugitive economic offenders, together with freezing of inoperative company accounts to enhance systemic transparency. en-us Tue, 19 Nov 2019 18:56:44 +0530 Tue, 19 Nov 2019 18:56:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22145 A regulatory package requires banks to apply a structured fraud detection and reporting framework for large NPAs, initiate wilful default proceedings upon detection, obtain inter-agency borrower intelligence, and strengthen due diligence by collecting certified identity documents and publishing wilful defaulter information under board-approved policies; administrative controls such as rotational transfers and Look Out Circular requests are mandated. Complementary measures include an independent audit regulator to enforce audit standards, and a statutory regime enabling attachment and disentitlement of fugitive economic offenders, together with freezing of inoperative company accounts to enhance systemic transparency. News - Tue, 19 Nov 2019 18:56:44 +0530 https://www.taxtmi.com/news?id=22145