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Banking Central | When will banks start listening to the regulator and treat customers fairly?

Fairness in customer transactions is a virtue banks have ignored for long. Consumers cannot taken for granted

Reserve bankYes bankCustomer fairnessLoan penal charges

RBI s Order For All Banks: No Penal Charges On Customers If They Can t Repay Loan On Time - Trak in - Indian Business of Tech, Mobile & Startups

RBI s Order For All Banks: No Penal Charges On Customers If They Can t Repay Loan On Time - Trak in - Indian Business of Tech, Mobile & Startups
trak.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from trak.in Daily Mail and Mail on Sunday newspapers.

Reserve bankFor all banksBank proposes stricter regulationsLoan penalLoan penal charges

RBI tweaks norms of penal charges on loan accounts

While the intent of levying penal interest is essentially to inculcate a sense of credit discipline, supervisory reviews have indicated divergent practices amongst banks

Reserve bankLoan penal charges

RBI issues new guidelines for banks, NBFCs to regulate penal interest on loans

The new set of rules, which come into effect from January 1, 2024, are being introduced to promote fairness and transparency in the lending sector.

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