Answer-RBI's guidelines on Key Fact Statement (KFS) mandate specific disclosures for retail and MSME loans....

Statement 1 is correct APR is the heart of KFS it captures total cost including processing fees, insurance, and other charges. Statement 2 is wrong if material terms change, the KFS must be revised and re-issued lenders cannot circumvent KFS by burying changes in the main loan document. Statement 3 is correct the 3-day look-up cooling-off period is specifically to prevent pressure selling. Both 1 and 3 are correct.

Question

RBI's guidelines on Key Fact Statement (KF

R , which includes interest rate plus all fees and charges expressed as an annualised percentage. 2. Lenders can modify the terms of a loan agreement without revising the KFS, provided the changes are disclosed in the loan agreement. 3. Borrowers must be given a look-up period of at least 3 days to review the KFS before signing the loan agreement for loans above a threshold. Which of the above statement(s) is/are correct?
S mandate specific disclosures for retail and MSME loans. Consider the following: 1. The KFS must disclose the Annual Percentage Rate (AP