Govt makes Passport mandatory for Bank Loans of Rs. 50 crore & above
March 11th, 2018
The government has made providing passport details mandatory for taking loans of 50 crore rupees and above to ensure a SWIFT action in case of fraud and prevent fraudsters from fleeing the country. According to Financial Services Secretary, all existing loans of over 50 crore rupees, banks have been asked to collect passport details of borrowers within 45 days.