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The RBI has mandated that all regulated entities provide a Key Fact Statement (KFS) to retail and MSME borrowers, ensuring greater transparency and enabling customers to make informed decisions
The central bank said all lending institutions will have to furnish all the charges, like processing fees and documentation charges, that are levied on the interest rate on a loan in the Key Fact Statement (KFS).
RBI asks banks to extend KFS facility to retail, MSME borrowers thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
RBI mandates key fact statement for retail, MSME loans - 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.
Mumbai: With the economic growth remaining resilient despite global headwinds, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday decided to keep the repo rate...
RBI mandates key fact statement for retail, MSME loans - 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.
the RBI stated that the transition to the new punitive charges regime should occur on or after April 1, 2024, but no later than June 30, 2024 in the case of existing loans.
The RBI has released a circular extending the deadline to implement the revised guidelines on how banks, NBFCs are charge penal interest and penalty charges on loan accounts. The deadline has been extended by three months for new loan accounts opened on or after April 1, 2024. Read on to know more about it.
Bajaj Finance had in a filing last month said that the RBI in its order dated November 15 directed the NBFC to stop sanction and disbursal of loans under its two lending products.