What is a cross default clause?

An example of cross default clause in a loan agreement is if a person defaults on his mortgage, then the person will default on his 4 wheeler loan. You can read about The Reserve Bank of India: Functions and Composition in the given link.

Further readings:

  1. Non Performing Assets (NPA) – Facts for UPSC GS-III
  2. Topic-Wise GS 3 Questions for UPSC Mains

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