RBI Directs ‘Regulated Entities’ to Review Their Practices Regarding Mode of Loan Disbursal & Application of Interest
- Blog|News|FEMA & Banking|
- < 1 minute
- By Taxmann
- |
- Last Updated on 1 May, 2024
Latest from Taxmann
Circular No. RBI/2024-25/30 DoS.CO.PPG.SEC.1/11.01.005/2024-25, Dated 29.04.2024
The RBI has observed certain practices of charging interest which are not in consonance with the spirit of fairness and transparency while dealing with customers. In the interest of fairness and transparency, RBI has directed all Regulated Entities to review their practices regarding the mode of disbursal of loans, application of interest and other charges and take corrective action, including system-level changes. The circular shall take effect from 29.04.2024.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
