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Searched Tag: key fact statement
The Reserve Bank of India (RBI) has announced significant changes regarding loan terms, emphasizing transparency and borrower empowerment.

RBI's new directive: Lenders must offer 'Key Fact Statement' to borrowers

April 16, 2024, 04:52 PM - 2 min read

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.

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