Question
According to the norms formulated by RBI,a penalty, if
charged for non-compliance with the material terms and conditions of the loan contract by the borrower, should be categorized as ‘penal charges’.Furthermore,the central bank has deferred the implementation of norms regarding penal charges levied by banks and financial institutions to_________ , for new loans.ÂSolution
The Reserve Bank of India (RBI) has deferred the implementation of norms regarding penal charges levied by banks and financial institutions to April 1, 2024, for new loans. According to the norms, a penalty, if charged for non-compliance with the material terms and conditions of the loan contract by the borrower, should be categorized as ‘penal charges’. These charges shall not be levied in the form of ‘penal interest’ added to the interest rate on advances. Furthermore, no additional interest should be computed on such charges.
Who among the following received the 2024 MacGregor Medal in absentia while on a Mount Kanchenjunga expedition?
Which companies collaborated with CSIR-IIP during the "One Week, One Theme" campaign focusing on Energy and Energy Devices?
Former Chief Minister of _____ and veteran Congress leader and Hemananda Biswal passed away.Â
A joint venture company namely Khanij Bidesh India Ltd. (KABIL) is set up with the participation of how many Central Public Sector Enterprises?
On which date International Day of Women and Girls in Science is celebrated annually?
What was the theme of International Holocaust Remembrance Day 2023?
Who has become 1st women President of Indian Mountaineering Foundation?
What is the primary objective of the $200 million loan agreement signed between the Asian Development Bank (ADB) and the Government of India?
Who won the Men's Player of the Month award for the month of February?
 According to the data of the commerce ministry which country become India's top trading partner in 2021-22?
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