RBI/2007-2008/59
DBOD No.DL.BC.12928/20.16.003/2007-08

July 2, 2007

The Chief Executives of

i) All scheduled commercial banks (excluding RRBs and LABs) and
ii) All India Notified Financial Institutions

Dear Sirs,

As you are aware, the Reserve Bank of India has, from time to time, issued a number of circulars to banks and financial institutions (FIs) containing instructions on matters relating to wilful defaulters. In order to enable the banks/FIs to have all the existing instructions on the subject at one place, this Master Circular has been prepared. The Master Circular incorporates all the instructions/ guidelines issued on cases of wilful default, which are operational as on date. The Master Circular has also been placed on the RBI web-site (http://www.rbi.org.in).

Yours faithfully,

(Vinay Baijal)
Chief General Manager