Sunday, November 14, 2010

Don’t hide any charges on loans: RBI to banks


Source:Express news service:MUMBAI:Sat Nov 13 2010, 23:13 hrs
 The Reserve Bank of India has directed commercial banks
 to disclose all information about various costs associated with loans. 
Banks must disclose all in cost inclusive of all such charges
 involved in processing, sanction of loan application in a
 transparent manner to enable the customer to compare the rates with other
 sources of finance,” the RBI said in a notification.

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