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🚀 New: Section-Wise Filter ✕

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        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

        Provisions expressly mentioned in the judgment/order text.

        <h1>Foreclosure charges prohibition on floating-rate individual term loans now required, aligning NBFC practice with customer protection.</h1> The Reserve Bank of India directed on 14 July 2014 that Non-Banking Financial Companies shall not levy foreclosure charges or prepayment penalties on floating-rate term loans to individual borrowers, effective immediately, as a customer-protection and harmonisation measure; the RBI further stated it has not received data showing NBFC non-compliance with these directions.

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