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To ensure fair lending, the Reserve Bank of India (RBI) has prohibited lenders from compounding penal interest arising from loan defaults with future repayments. Also, the penalty imposed by regulated entities (REs) on customers for default and breaching loan conditions are to be treated as penal charges are debarred from imposing such charges as penal interest, which is added to the rate of interest. These instructions will come into effect from January 1, 2024. These instructions will, however, not apply to credit cards, external commercial borrowing, trade credits and structured obligations covered under product-specific directions. The penal charges for loans sanctioned to individual borrowers, for purposes other than business will not be higher than the penal charges applicable to non-individual borrowers for similar non-compliance with material terms and conditions.
What is the Capital to Risk Weighted Assets Ratio (CRAR) of scheduled commercial banks (SCBs) as of end March 2024 according to the Financial Stability ...
Consider the following statements:
1. As per the Right to Education (RTE) Act, to be eligible for appointment as a teacher in a State, a person...
According to Census 2011, the highest male-female disparity in literacy is in __________ whereas the lowest is in ______________.
Which player was awarded the Emerging Player of the Season in IPL 2024?
Who inaugurated the Conference of Governors in New Delhi on 2nd August 2024?
In which year did Madan Mohan Malviya establish "Bharata Dharma Mahamandal" with the aim of propagating Sanatan Dharma and Hindu culture, and also serv...
______ has sold its 14.50% stake in its subsidiary through an IPO.
Consider the following statements:
1.An upward slope is obtained if the yields for different tenures of bonds are mapped.
2.When yields fo...
Which statement is correct about “Namami Gange Programme”
a. It is operated under Ministry of Jal Shakti
b. It seeks to accomplish t...
When did the Central Government appoint the Sarkaria Commission to investigate Union-State relations?