RBI asks lenders to follow fair practices refund excess charges to customers
(This story has not been edited by THE WEEK and is auto-generated from a PTI
Source: theweek.in
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RBI directs lenders to review their lending practices in line with fair practice code
Some lenders are resorting to certain unfair practices in charging interest rates such as charged interest on loans from the date of sanctioning or execution of the loan agreement rather than from the date of disbursement.
Source: indiatimes.com
RBI imposes penalties on IDFC First Bank, LIC Housing Finance for non-compliance
In a statement, the RBI said the penalty on IDFC First Bank has been imposed for non-compliance with certain directions on 'Loans and Advances - Statutory and Other Restrictions'.
Source: businesstoday.in
Loan default: Struggling to repay your loan? Understand borrower's rights
Despite defaulting, borrowers have legal rights that lenders must respect
Source: livemint.com
Delhi HC seeks reply from RBI, SEBI on unlawful lending practices carried by Paisalo Digital
The Delhi High Court has sought responses from the RBI and SEBI regarding unethical lending practices by Paisalo Digital. Mukesh Arya's plea alleges violation of RBI's Master Circulars and seeks an independent inquiry and audits. Santanu Agarwal clarifies the company's stance on the matter.
Source: indiatimes.com