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India cbank bars banks from charging prepayment fee on floating rate term loans
May 7, 2014 / 6:47 AM / 3 years ago

India cbank bars banks from charging prepayment fee on floating rate term loans

MUMBAI, May 7 (Reuters) - The Reserve Bank of India has barred banks from levying foreclosure charges on individual borrowers for all floating rate loans with immediate effect, it said in a release on Wednesday.

Reporting by Suvashree Dey Choudhury; Editing by Sunil Nair

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