RBI

To curb the harassment faced by many bank customers, the RBI on Banking Ombudsman (BO) has implied various rules to be followed by the recovery agents. Bank customers are solely a target of harassment and compulsions on various pretexts. Various banks and financial institutions hire recovery agents legally and illegally to recover the debts from […]

Prepayment penalty, a nightmare suffered often by individual borrowers of home loans, is set to end. Prepayment of a loan means payment of all debts before the due date. Prepayment penalty is an amount charged by banks if a borrower wants to prepay their loan. Prepayment penalty in some banks can range between one and […]