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RBI regulates Fair Lending Practice; curbs banks, NBFCs from compounding penal interest

By Puja Sharma

August 18, 2023

  • B2B Loans
  • Credit Loans
  • digital lending regulations
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Reserve Bank has issued various guidelines to the Regulated Entities (REs) to ensure reasonableness and transparency in disclosure of penal interest. Lending institutions have the operational autonomy to formulate Board-approved policies for levying penal rates of interest under the current guidelines. As a consequence of a borrower’s non-compliance with the terms of the credit facility, […]

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