MUMBAI The Reserve Bank of India has barred banks from levying foreclosure charges on individual borrowers for all floating rate loans with immediate effect, it said in a release on Wednesday.
(Reporting by Suvashree Dey Choudhury; Editing by Sunil Nair)
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The Reserve Bank of India kept its policy rate on hold at 7.25 percent on Tuesday, as widely expected, while leaving the door open to ease further depending on the inflation outlook and how swiftly banks lower their lending rates. Full Article | Full Coverage