 "defaulters, fugitive, wilful defaulters")
The war against bank defaulters in the world’s sixth largest economy has intensified with the Indian government authorising the CEOs of public sector banks to make request for issuance of look-out circulars (LOCs) to the ministry of home affairs against bank defaulters who could leave the country for good. Used at immigration counters at international airports, an LOC checks whether a travelling person is wanted by the police. At least four big bank defaulters and fraudsters have left India since March 2016.
In March 2018, in the wake of the $2 billion letters of undertaking fraud that hit Punjab National
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