Disclose all loan fees upfront from Oct 1: RBI
The Reserve Bank of India (RBI) has mandated banks and finance companies to provide borrowers with a comprehensive key facts statement starting from October 1. This statement will include information on all fees, the annual cost of credit, recovery agent policies, grievance contact details, and the likelihood of the loan being sold to others.
The Reserve Bank of India (RBI) has mandated banks and finance companies to provide borrowers with a comprehensive key facts statement starting from October 1. This statement will include information on all fees, the annual cost of credit, recovery agent policies, grievance contact details, and the likelihood of the loan being sold to others. What's Your Reaction?
