Fair Lending Practice - Penal Charges in Loan Accounts

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Fair Lending Practice - Penal Charges in Loan Accounts

In light of the RBI Guidelines dated 18.08.2023 bearing Ref. No. DoR.MCS.REC.28/01.01.001/2023-24 on ‘Fair Lending Practice - Penal Charges in Loan Accounts’, existing loans shall switchover to new penal charges regime as stipulated hereunder, w.e.f. 01.04.2024:-