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Financial Express Lucknow
|February 25, 2025
RBI plan to waive foreclosure charges will help MSMEs, but NBFCs may find the going tough
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The Reserve Bank of India (RBI)'s proposal to ask lenders—banks as well as shadow banks—to refrain from imposing a pre-payment penalty should make life easier for micro and small enterprises. This would be essentially for floating rate loans of up to ₹7.5 crore typically taken by small enterprises to run their businesses and to individuals for products such as loans against property. In fact, the central bank doesn't want even a minimum lock-in period before the pre-payment penalty kicks in. The RBI's stance on foreclosure penalties for floating rate home loans to individuals was similar and it had barred lenders from imposing such charges.
This story is from the February 25, 2025 edition of Financial Express Lucknow.
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