In a statement on Monday, the RBI said it has been decided to harmonise the instructions on KFS for loans and advances. “This is being done to enhance transparency and reduce information asymmetry on financial products being offered by different regulated entities, thereby empowering borrowers to make an informed financial decision,” the RBI said. Key…
Updated as per RBI master circular dated April 2, 2024 As per RBI guidelines, the following entities/offices are not eligible for bank finance. To know more, continue …. RBI NORMS ON HOUSING FINANCES TO INDIVIDUALS FOR DIFFERENT PURPOSES NORMS ON RESETTING OF FLOATING RATE OF INTEREST ON EMI-BASED LOANS IMPORTANT PRE-SANCTION HOME-LOAN REGULATIONS LAY DOWN…
Updated as per RBI master circular dated April 2, 2024 According to the RBI master circular, the Central Bank has been observing that some banks have introduced certain innovative Housing Loan Schemes in association with developers/builders, such as upfront disbursal of sanctioned individual housing loans to the builders without linking the disbursals to various stages…
Updated as per RBI master circular dated April 2, 2024 In light of the observations of the Delhi High Court on unauthorized construction, Banks/FIs before extending credit facilities shall follow the RBI guidelines stated below. To know more, continue …. RBI NORMS ON HOUSING FINANCES TO INDIVIDUALS FOR DIFFERENT PURPOSES NORMS ON RESETTING OF FLOATING…
RBI has provided instructions for the reset of the floating interest rate on equated monthly installments (EMI) vide circular bearing reference number DOR.MCS.REC.32/01.01.003/2023-24 dated August 18, 2023. According to these guidelines, Regulated Entities (REs) are permitted to offer various types of loans with either fixed or variable interest rates. However, when granting Equated Monthly Installment…
Updated as per RBI master circular dated April 2, 2024 Regulated entities like Banks and Financial institutions have to take into account RBI guidelines while sanctioning loans to individuals for different purposes. A loan may be granted by the Bank for the purchase of a plot, subject to a declaration obtained from the borrower that…
The idea of the Government on the MSME sector has been to manufacture goods in the country with “zero defects” and to ensure that the goods have “zero effect” on the environment. That is to say that we should manufacture goods in such a way that they carry zero defects and that our exported goods…
Today (September 4, 2020) announced that PSL guidelines have been comprehensively reviewed to align it with emerging national priorities and bring a sharper focus on inclusive development, after having wide-ranging discussions with all stakeholders. “Revised PSL guidelines will enable better credit penetration to credit deficient areas; increase the lending to small and marginal farmers and…
Definition: The priority sector is defined as the sectors that the Government of India and Reserve Bank of India consider as important for the development of the basic needs of the country and are to be given priority over other sectors while lending. The role of lenders is assigned by the Reserve Bank of India…
The basic distinctions between retail banking and wholesale banking/Corporate banking are apparent in their target audiences, services offered, customer relationships, and risk profiles. Retail banking business is targeted at individuals, salaried professionals, micro, small, and medium enterprises, Self Help Groups (SHGs), and Non-Resident Indians (NRIs). Retail bankers offer a variety of deposit schemes to individuals…