To ensure fair lending, the Reserve Bank of India (RBI) has prohibited lenders from compounding penal interest arising from loan defaults with future repayments.Also, the penalty imposed by regulated entities (REs) on customers for default and breaching loan conditions are to be treated as penal charges are debarred from imposing such charges as penal interest, which is added to the rate of interest. These instructions will come into effect from January 1, 2024.These instructions will, however, not apply to credit cards, external commercial borrowing, trade credits and structured obligations covered under product-specific directions.The penal charges for loans sanctioned to individual borrowers, for purposes other than business will not be higher than the penal charges applicable to non-individual borrowers for similar non-compliance with material terms and conditions.
Which of the following countries is not a member of SAARC?
Which gland is known as the "Master Gland"?
At which Buddhist site of India did Gautama Buddha first preach the Dharma?
Actor Robbie Coltrane passed away at the age of 72, he played a role in which Hollywood movie?
Which country will chair the UN Commission on the Status of Women?
Which of the following geographical indications (GI) is correctly matched with its region?
(I) Ramban Sulai Honey: Jammu & Kashmir
(II) Ch...
The value of an asset less the value of all liabilities on that asset is known as ________.
Which one of the following is not correctly matched?
To which country is Dasht-e-Margo, also known as the 'Desert of Death,' related?
Arrange the following plans in the ascending order (years first)?
1. Peoples plan
2. Gandhian Plan
3. Sarvodaya plan
4. Bombay plan
