Thursday, May 22, 2014

Many NBFCs Not Following Rules, Says Home Minister

.........The RBI code asks all NBFCs to publish their interest rates on websites and other media. The loanees should be given awareness on interest rates and other conditions.  ‘’Though the RBI is the authority to act against such violation, the police can act up on specific complaints,’’ he said. The minister said micro-finance agencies are also liable to follow the RBI guidelines...........

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