:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

RBI DOESN'T HAVE INFO ON HEAVY PENALTY ON CREDIT-CARD DEFAULTS

According to a reply sent to a question through Right to Information Act, RBI does not have any information about "heavy penalties" and "extra-ordinary interest rates" imposed by banks on credit card defaults. The RBI, however, said that banks have been advised through a circular dated May 7, 2007 to prescribe a maximum ceiling rate of interest, including processing and other charges, in respect of small value personal loans and loans similar in nature, the guidelines of which are applicable to credit card dues also.


Source: http://economictimes.indiatimes.com/news/economy/finance/RBI-doesnt-have-info-on-heavy-penalty-on-credit-card-defaults/articleshow/5527507.cms

Posted by C.B.O.A., A.P.

Labels:

0 comments

Post a Comment

Subscribe to: Post Comments (Atom)