Question

    In August 2023, RBI has issued revised rules for penal interest on loans. When will these rules become effective?

    A 1 Oct 2023 Correct Answer Incorrect Answer
    B 1 Nov 2023 Correct Answer Incorrect Answer
    C 1 Dec 2023 Correct Answer Incorrect Answer
    D 1 Jan 2024 Correct Answer Incorrect Answer
    E 1 April 2024 Correct Answer Incorrect Answer

    Solution

    It will come into effect on 1 January 2024.

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