https://www.taxtmi.com/news?id=24279 A Framework for timely detection, reporting and investigation mandates banks to examine high-value NPAs for possible fraud, report findings to NPA review committees, initiate wilful default inquiries upon regulatory reporting, and obtain intelligence bureau reports on borrowers turning NPA; operational controls require identity verification of borrower signatories, consideration of publishing wilful defaulter photographs, rotational staff transfers, and authority to request Look Out Circulars, while statutory measures include attachment and confiscation remedies under fugitive offender legislation and strengthened audit oversight through an independent financial reporting regulator. en-us Wed, 28 Jul 2021 09:24:28 +0530 Wed, 28 Jul 2021 09:24:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24279 A Framework for timely detection, reporting and investigation mandates banks to examine high-value NPAs for possible fraud, report findings to NPA review committees, initiate wilful default inquiries upon regulatory reporting, and obtain intelligence bureau reports on borrowers turning NPA; operational controls require identity verification of borrower signatories, consideration of publishing wilful defaulter photographs, rotational staff transfers, and authority to request Look Out Circulars, while statutory measures include attachment and confiscation remedies under fugitive offender legislation and strengthened audit oversight through an independent financial reporting regulator. News - Wed, 28 Jul 2021 09:24:28 +0530 https://www.taxtmi.com/news?id=24279