Banks flag bad loans, rising fraud in SHGs

Banks are flagging increased fraud and loan defaults within self-help groups. To combat this, lenders are suggesting mandatory unique registration numbers for groups and their members. A central registry for cross-verification is also proposed. This aims to improve transparency and track loan exposures effectively. The government is already monitoring SHG-bank linkages.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/5kDsGJB
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