Tuesday, December 13, 2011

Will RBI be forced to issue regulation on prepayment charges?

...... We know that the National Housing Bank (NHB) had stolen a march over its parent the Reserve Bank of India (RBI) in passing a regulation that prepayment penalty cannot be charged by housing finance companies (HFCs) in case of loans that are on a floating interest rate basis irrespective of the source of such repayment (even if it is by way of transfer of loan to another lender)............

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