Interest on Loan: The Reserve Bank of India has taken a big step for the benefit of loan borrowers, issuing a stern directive to lenders. The central bank on Monday directed Regulated Entities ...
In a directive dated 29 April, the central bank noted three unfair practices with respect to interest on loans that banks ...
Mumbai: The RBI Monday flagged instances of lenders fleecing consumers by unfairly levying interest charges and instructed them to desist from such practices and refund any excess interest they ...
The Reserve Bank of India (RBI) on Monday has asked some banks and lenders to stop using unfair practices while charging interest from borrowers, PTI reported. The central bank went beyond doing ...
RBI asks lenders to follow fair practices, refund excess charges to customers The guidelines on Fair Practices Code issued to various regulated entities (REs) since 2003, inter-alia, advocate fairness ...
MUMBAI: The Reserve Bank of India (RBI) has recently mandated all lenders, including fintechs, to disclose all retail and small business loan details in simple format and lucid language effective ...
In the backdrop of some fintechs gaming the system, the Reserve Bank of India (RBI) on Friday issued Draft Guidelines on ‘Digital Lending – Transparency in Aggregation of Loan Products from ...
President Joe Biden is doubling down on his student loan forgiveness promise with a new plan that would bring relief to over 30 million Americans. The proposal announced last week would fully wipe ...
A lender would verify all the property related documents while evaluating an LAP application. Just like personal loans, or loans with securities or gold and jewellery as collateral, lenders do ...
Some student-loan borrowers hoping for debt relief might have to wait a few months. Beginning on May 1, the Education Department placed a pause on any processing of applications to the Public ...