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RBI Decides Not to Impose Prepayment Charges on Floating Rate Loans

By HIOC Team

7 Sep 11: RBI has banned prepayment charges on floating rate loans. RBI has said that it is not appropriate to impose prepayment charges of floating rate loan contract as in this type of contract the borrower bears the complete interest risk. But since in fixed rate loan contract, the lender is committing resources,... »

RBI to Introduce New Coins of 50 Paise to Rs.10

By HIOC Team

22 Jul 11: The reserve Bank of India has said that it will release new coins of various denominations – 50 paise, Rs.1, 2, 5 and 10. The faces of these coins will bear Lion Capitol of the Ashoka Pillar and word ‘India’ in English on one side and their denominational value on the... »

RBI to Withdraw Coins of Lower Denominations

By HIOC Team

16 March 2011: From this June 30th, RBI has decided to stop any legal payment and circulation of 25 paise coins and other coins with lower denominations. These coins can be exchanged for their worth across 41 banks in the country. These banks are: Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India,... »

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