The Reserve Bank of India (RBI) has rebuked banks for overcharging borrowers under the pretence of penal interest rates and has proposed measures to shield borrowers from unfair charges. The regulator stated in a drafted circular on levying penal charges on loan accounts that the penalty should be levied as a charge rather than as a compounding interest rate.
from IndiaTV Business: Google News Feed https://ift.tt/TAby7Ye
via IFTTT
from IndiaTV Business: Google News Feed https://ift.tt/TAby7Ye
via IFTTT
No comments:
Post a Comment