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RBI new loan rules: Is your bank overcharging you on interest? 4 ways in which customers may be paying extra | Business

Financial Literacy News: Are you being overcharged on loan interest? The Reserve Bank of India (RBI) has identified instances of unfair lending practices by banks and other financial institutions when it comes to charging interest on loans.

India , Reserve-bank , Key-fact-statement ,

4 ways banks are overcharging borrowers on loan interest rates, as per RBI

Date for interest charging by banks: The Reserve Bank of India did onsite review of banks and other financial institutions to check how lenders are charging interest on loans issued to borrowers. The central bank found four instances where banks were following unfair lending practices. Read on to know more about this and what RBI has asked banks to do.

India , Reserve-bank , Key-fact-statement , Rbi , Nbfc , Charging-interest-on-loans , Banks , Rbi-guidelines , Fair-lending-practices ,

Bajaj Finance's consolidated PAT up 21% in Q4, margins shrink 21 bps

Bajaj Finance's consolidated PAT up 21% in Q4, margins shrink 21 bps
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

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Banking Central | Is it right for banks to make you buy insurance cover tied to your loan?

Banking Central | Is it right for banks to make you buy insurance cover tied to your loan?
moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.

India , Reserve-bank , Key-fact-statement ,

Loan accounts: RBI puts stop to compounding penalty charges

In August 2023, the RBI issued a circular on how banks can levy penalties on loan accounts. The new guidelines were supposed to come into effect from January 1, 2024. However, considering that certain clarifications were needed in this regard and additional time was required by banks and NBFCs the implementation date is extended.

India , Key-fact-statement , Service-charges , Reserve-bank-of-india , Rbi , Penalty-charges , Nbfcs , Loan-accounts , Interest-rates-and-service-charges ,

BM Finance Fundas: No more hidden charges as declaring actual interest rate is now mandatory

The move is one of the measures to enhance the customer centricity and also to enhance transparency measures. The possibility of levying any hidden charges by a lender on a loan will be greatly reduced because of this. The actual annualised interest rate will also include one-time charges and other charges that are levied by the banks and NBFCs.

India , Abhiroop-medhekar , Adhil-shetty , Key-fact-statement , Regulatory-policies , Reserve-bank , Key-fact-statement- , Annual-percentage-rate , Reserve-bank-of-india , Preeti-motiani , Kfs

RBI's warning to fintech: Know more on top compliance measures, regulatory frameworks for industry players - Banking & Finance News

RBI's warning to fintech: Know more on top compliance measures, regulatory frameworks for industry players - Banking & Finance News
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

India , Teamlease-regtech , Lending-service-providers-lsps , Regulatory-organisation-for-payment-system-operators , Paytm-payments-bank-on , Banking-financial-companies , Reserve-bank , Paytm-payments-bank , Financial-express-online , Rishi-agrawal , Settlement-systems-act , Digital-lending

Bankers' views on RBI Policy - The Hindu BusinessLine

Bankers' views on RBI Policy - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

India , Uttam-tibrewal , Zarin-daruwala , Shanti-ekambaram , Dinesh-khara , Alok-singh , Standard-chartered-bank , Au-small-finance-bank , Punjab-national-bank , Linkedin , Central-bank-digital-currency , Twitter

India is well on its way to becoming Viksit Bharat

Monetary and fiscal policies have put in place conditions for a phase of steady growth and moderate inflation

India , Viksit-bharat , Amrit-kaal , Central-bank-digital-currency , Key-fact-statement , Aadhaar-enabled-payment-system , Arendra-modi , Irmala-sitharaman , Nterim-union-budget , Nion-budget , Udget , Udget-2024

Reserve Bank of India (RBI) | Reserve Bank of India on Thursday keeps policy repo rate unchanged for sixth straight time

Policymakers also voted to continue with its stance on the withdrawal of accommodation

India , Shaktikanta-das , Reserve-bank , Key-fact-statement , Reserve-bank-of-india-rbi- , Epo-rate , Onetary-policy-committee-mpc- , Entral-bank-digital-currency-cbdc- ,