Last Updated:February 22, 2025, 10:17 IST The Reserve Bank of India has invited public feedback on the draft rules by March 21, 2025, to eliminate foreclosure charges and prepayment penalties on floating rate loans. Once finalised, the RBI’s revised norms will be applicable to eligible loans or advances foreclosed on or after the date specified

Last Updated:February 22, 2025, 09:48 IST The Reserve Bank of India has invited public feedback on the draft rules by March 21, 2025, to eliminate foreclosure charges and prepayment penalties on floating rate loans. Once finalised, the RBI’s revised norms will be applicable to eligible loans or advances foreclosed on or after the date specified