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. ..

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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 ..

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