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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