Question
To ensure fair lending, the Reserve Bank of India (RBI)
has prohibited lenders from compounding penal interest arising from loan defaults with future repayments.The instructions issued by RBI in this regard will come into force from _______.Solution
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.
Which Islamic legal school requires the presence of two witnesses for a marriage contract to be considered valid?
In computing the period of limitation for an application to set aside an award, the time requisite for obtaining a copy of the award shall be __________?
According to the RTI Act, can legal proceedings be initiated against any person for actions done in good faith under this Act or any rule made thereunder?
Which of the following is not a basic feature of “Command theory given by Austin?
According to the Consumer Protection Act, 2019, when can the District Commission review any of its orders?
Under section 77 of the Bharatiya Sakshaya Adhiniyam the reference to the ____________________ have been removed
As per the Motor Vehicles Act, The duty to give information about insurance as per S. 152 includes-
Amendment of pleading can be permitted_____.
The State Chief Information Commissioner and the State Information Commissioners shall be appointed by the Governor on the recommendation of a committee...
A copy of MOA / AOA can be given , to the members on request, within _____?
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