Tag: penalties
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ECS/NACH return charges: Meaning, penalties and how to avoid them
In the nation’s rapidly evolving and digitising financial landscape, automated payment systems such as Electronic Clearing Service (ECS) and National Automated Clearing House (NACH)...
RBI to stop banks from levying foreclosure charges or prepayment penalties on loans. Details here
The Reserve Bank of India (RBI) has released a draft circular intended to direct banks not to levy foreclosure charges/ pre-payment on the floating...
RBI pushes for fairer lending: Prepayment penalties on floating rate loans could be scrapped
CompanyValueChange%ChangeThe Reserve Bank of India (RBI) on Friday released draft guidelines proposing the removal of foreclosure charges and prepayment penalties on floating rate loans,...
