The RBI's next monetary policy meeting is scheduled for early October
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“In order to address these concerns, the REs are advised to put in place an appropriate policy framework meeting the following requirements for implementation and compliance
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The partnership between DBS Bank and Infor Nexus was, until now, primarily focused on availing early payments to the suppliers on a post-shipment basis
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The company has half a million depositors, with each depositor having placed 2.87 deposits, totalling 1.4 million deposits
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As per a disclosure made to the stock exchanges, the bank has communicated that Seshadri's tenure will span three years
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The RBI notification on Fair Lending Practice - Penal Charges in Loan Accounts stated that as per current guidelines, lending institutions possess operational independence to create a Board-approved policy for imposing penal rates of interest
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The project facilitates easy access to borrower data from governments, aggregators, lenders, and identity authorities, thereby promising notable cost reductions, quicker disbursement, and enhanced scalability
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The RBI's move comes as part of its ongoing efforts to ensure that borrowers are treated fairly and to address customer grievances arising from divergent practices in the imposition of penal charges
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