The RBI expressed serious concern over non-standard interest charging practices inconsistent with fairness and transparency, directing banks, NBFCs, and housing finance firms to refund excess interest and charges to affected customers upon discovery.

Any fees, charges etc. which are not mentioned in the KFS, cannot be charged by the Regulated Entities (REs) to the borrower at any stage during the term of the loan without explicit consent of the borrower.

In light of the prevalence of misinformation, NABARD called for the cooperation of all stakeholders in ensuring the dissemination of accurate information and discouraging the spread of falsehoods.

City Magistrate Vikash Kashyap visited the hospital and reported that the farmer sustained minor facial burns and received immediate medical attention. Kashyap mentioned that Brijpal had a loan-related concern, which authorities promised to resolve, following which he took the step.    

The Karnataka government has decided to waive interest on medium and long-term overdue loans of District Cooperative Central and Primary Cooperative Agriculture and Rural Development banks, Chief Minister Siddaramaiah said on Friday, claiming that it would benefit more than 57,000 farmers.