RBI turns heat on banks over service charge hike

The hike in service charges by commercial banks has come under the Reserve Bank of India lens. This follows the apex bank and banking ombudsmen receiving customer complaints against levy of......

No more pre-payment charges on home loans

Providing relief to home loan borrowers, the Reserve Bank on Tuesday asked banks not to levy any penalty on pre-payment of loans taken on floating rate."Though many banks have, in the recent past,......

Prepayment penalty on home loans to be scrapped

Borrowers wanting to prepay home loans can look forward to some relief as RBI on Tuesday indicated that it would scrap prepayment penalties charged by banks. "It is proposed to implement the......

Car loan? Have you signed a 'surrender letter'?

Only a few signatures on some bank loan papers stood between Deepak Kulkarni, a senior executive in a communications firm, and the car he eyed in the showroom on his way to work everyday. Or so he......