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The Business Standard on 25 November 2021 reported that the outstanding amount owed by willful defaulters to the Indian Banking system increased to a staggering amount of Rs. 62,970 since the beginning of the pandemic.

Dewan Housing Finance Corporation Limited ("DHFL"), a housing finance and Non-Banking Financial Company ("NBFC") regulated under the National Housing Bank Act, 1987 ("NHB Act") and the Reserve Bank of India Act, 1934 ("RBI Act"), was accused of committing financial scams, including inter alia loan frauds and money laundering.