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No Penal Interest on Loans From April 1; Check The New Rule Governing Loan Repayment

No Penal Interest on Loans From April 1; Check The New Rule Governing Loan Repayment
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RBI mandates lenders to furnish Key Fact Statement: What is KFS and how will it bring transparency? Experts explain

RBI KFS: The Reserve Bank of India orders all regulated entities to provide a key fact statement to borrowers for all retail and MSME loans to enhance transparency and financial literacy.

Rajeev dasManish shahBharatpe sumeet singhGeorge alexander muthootAshish pipaliyaNirmala sitharamanBharat financial inclusionLoantap groupRegulatory policiesReserve bankKey fact statementKey factGodrej capitalExecutive directorAlexander muthootMuthoot finance

RBI to set up regulatory framework to make taking loans safer

The new announcement comes after RBI, in September 2022, issued guidelines on protecting borrowers. As per the guidelines issued last year, lenders were required to inform customers about the cost of taking the loan. Lenders are now required to issue a Key-Fact Statement to the borrower before any loan is given.

Lsps dlasKey fact statementKey factSafer loansLoan web aggregatorsLending frameworksRbi regulated entities

Bajaj Finance shares in news as RBI orders NBFC to stop lending under two products

Bajaj Finance informed stock exchanges that the supervisory restrictions will remain in place till the deficiencies observed are made good by the company to the satisfaction of RBI, in terms of issuance of Key Fact statements to the borrowers.

Bajaj finance ltdReliance industriesReserve bankKey factBajaj financeKey fact statementRbi orderBajaj financeBajaj finance sharesBi news

What are the orders by RBI to Bajaj Finance on lending products?

The Reserve Bank of India has issued orders to Bajaj Finance, asking the company to stop the disbursal and sanction of loans under two of its lending products with immediate effect. What are the orders and what could be the reason?

Banking financial companiesBajaj finance ltdBajaj financeReserve bankKey fact statementPolicy meetingDigital lendingKey fact statementsKey factSet to discontinueNon banking financial companiesDistrict central co operatives banksPrimary co operative banksState co operativeOrders by rbi to bajaj financeCom and insta emi card