Passport details have been made mandatory for taking bank loans above Rs 50 crore. The move has been made to ensure swift action in case of fraud and prevent fraudsters from fleeing the country. Financial Services Secretary Rajeev Kumar made the announcement on Twitter and said that it is a step for clean and responsible banking.

Next step on clean N #Responsible #banking.
Passport details a must for loans > 50 cr. Steps to ensure quick response in case of Frauds.@PMOIndia @FinMinIndia @PIB_INDIA pic.twitter.com/fcnTE3OFjH

— Rajeev kumar (@rajeevkumr) March 10, 2018