RBI Directs ‘Regulated Entities’ to Review Their Practices Regarding Mode of Loan Disbursal & Application of Interest

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Regulated Entities

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

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