NBFCs Can’t Charge Prepayment Penalties On Floating Rate Loans To MSEs; New RBI Rule Applicable From… | Personal Finance News
New Delhi: The Reserve Bank of India has directed banks and other lenders not to charge pre-payment penalties on all floating-rate loans and advances, including for business purposes, availed by individuals and micro and small enterprises (MSEs). RBI’s direction will applicable to all loans and advances sanctioned or renewed on or after January 1, 2026….