Predatory lending Current Affairs, GK & News
RBI to set up Public Credit Registry (PCR) to check loan defaults
In a bid to check loan defaults, the Reserve Bank of India (RBI) has considered the recommendations of YM Deosthalee-headed High Level Task Force and will set up a Public Credit Registry (PCR) in a modular and phased manner. The PCR is an information repository that collates all loan information of individuals and corporate borrowers. ..
Topics: Banking • Capital market imperfections • Credit • Economy • Finance • Loans • Money • Mortgage • Predatory lending • Public Credit Registry • Reserve Bank of India
Stop foreclosure penalty on home loans: RBI
Reserve Bank of India asked banks to forthwith stop charging penalty on pre-payment of home loans taken on floating interest rates. RBI held in its notification that abandoning prepayment penalty on home loans would lead to reduction in the bias between existing and new borrowers. The action can aid in finer pricing of the floating ..
Month: Current Affairs - June, 2012
Topics: Economy • Finance • Foreclosure • Loans • Money • Mortgage • Mortgage loan • Mortgage-backed security • Predatory lending • Prepayment of loan • Structured finance • United States housing bubble