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RBI imposes penalties on two Gujarat Urban Co-op Banks

The Reserve Bank of India has imposed monetary penalties on two urban cooperative banks in Gujarat. Sutex ....

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Penal charges on loan accounts: RBI issues clarifications before new rules come into force; 6 key points to know

In its last circular, the RBI made its stand clear that the intent of levying penal charges is to inculcate a sense of credit discipline and such charges are not meant to be used as a revenue enhancement tool over and above the contracted rate of interest. ....

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Loan defaults: RBI pushes the deadline for new penal charges regime to April 1, 2024

RBI has extended the deadline for introduction of new penal charges regime by three months upto April 1, 2024. The guidelines released in Aug this year stipulated that the penalty for non-compliance will not be in the form of penal interest ....

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Reserve Bank of India (RBI) | Bengal government plans to borrow Rs 59,955 crore in fourth quarter: Reserve Bank

The apex bank said the states will raise Rs 4.13 lakh crore in the fourth quarter. Besides Bengal, states such as Madhya Pradesh, Maharashtra, Gujarat, Bihar, Andhra Pradesh, Karnataka, Punjab and Assam are in the fray ....

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Penal Charges in Loan Accounts: RBI Gives 3 More Months to Banks, NBFCs to Implement Modified Norms

RBI regulated entities, which include banks and NBFCs, have been asked to ensure that the instructions are implemented in respect of all the fresh loans availed from April 1, 2024, onwards ....

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