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TMI BlogNo Foreclosure Charges by NBFCS on all Floating Term Loans to Individual BorrowersX X X X Extracts X X X X X X X X Extracts X X X X ..... No Foreclosure Charges by NBFCS on all Floating Term Loans to Individual Borrowers - News and Press Release Dated:- 1-8-2014 - News - The Reserve Bank of India (RBI) does not propose to restrict for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eclosure charges charged by the Non-Banking Financial Companies (NBFCs) on pre-payment of loans to a maximum of three percent at present. RBI has issued a circular dated 14th July, 2014 to all Non-Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... king Financial Companies/Residuary Non-Banking Companies with regard to levy of foreclosure charges/pre-payment penalty on Floating Rate Loans, as a measure of customer protection and also in order to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bring in uniformity with regard to pre-payment of various loans by borrowers of banks and NBFCs, stipulating that NBFCs shall not charge foreclosure charges/prepayment penalties on all floating rate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... term loans sanctioned to individual borrowers, with immediate effect. The RBI has not received any such data till date regarding NBFCs non-compliance of the directions issued recently on 14.7.2014 on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... levy of foreclosure charges/pre-payment penalty on floating rate loans. This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k Sabha today. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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