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      Question

      In August 2023, RBI has issued revised rules for penal

      interest on loans. When will these rules become effective?
      A 1 Oct 2023 Correct Answer Incorrect Answer
      B 1 Nov 2023 Correct Answer Incorrect Answer
      C 1 Dec 2023 Correct Answer Incorrect Answer
      D 1 Jan 2024 Correct Answer Incorrect Answer
      E 1 April 2024 Correct Answer Incorrect Answer

      Solution

      It will come into effect on 1 January 2024.

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