February 23, 2025
Financial Assets

RBI proposes scrapping foreclosure charges on loans for THESE borrowers; Will this ease loan burden?

The Reserve Bank of India (RBI) released draft norms for prepayment penalties on loans on Friday, February 21, where it proposed to scrap the foreclosure charges on floating-rate loans for retail and MSME borrowers. Once approved, this will apply to all floating-rate loans. The central bank added that the loans granted for business purposes to

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Financial Assets

Banks to identify MSME stress before turning their accounts to NPA

A worker operates a machine inside a small scale manufacturing unit in Mumbai. File | Photo Credit: Reuters The Supreme Court has held that banks or creditors are required to identify the incipient stress in the account of the Micro, Small and Medium Enterprises (MSMEs), before their accounts turn into non-performing assets. A Bench headed

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