February 9, 2024

RBI Implements Groundbreaking Transparency Measures: Lenders Mandated to Disclose All Loan Charges in Key Fact Statement

The Reserve Bank of India (RBI) has introduced measures to enhance transparency in lending practices by instructing financial institutions to disclose all charges associated with loans, in addition to interest rates. Lending institutions, including banks and Non-Banking Finance Companies (NBFCs), are now obligated to include details of charges such as processing fees and documentation fees…

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