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Fair Lending practice code, In prima faci, found many lending institutions failed to extend services as of compliance from Centre bank.
Banks or/& NBFCs r opaque to practices that may give them undue advantage & can infringe on benefits of burrowers.
1/n
Banks or/& NBFCs r opaque to practices that may give them undue advantage & can infringe on benefits of burrowers.
1/n
Post Covid-19 most of lenders change in the lending Rules which violate the basic principles of finance. Recently NBFCs before Apex court demanding for Moratorium & borrowing facilities but on other side forgot to extend benefits to retail clients. 2/n
Lenders can't apply force majeure universally (spe. ere lock down agreements) & can't not force to ask material information for lockdown period.
3/n
3/n
Most of Lenders did not reduce interest rate if Repo reduce the benchmark rate. Buyers hesitate, avoid buying decision in such conditions. Lending rate must link with Repo. NBFCs violate the lending Rules. @RBI https://www.livelaw.in/top-stories/sc-issues-notice-to-rbi-centre-in-plea-seeking-relief-measures-for-real-estate-sector-amid-covid-19-pandemic-situation-158690
I already pin these points, Now this is an official remarks from RBI. Many NBFCs Violates the Lending Rules and not avail services to retail customers. @LnTFSOnline @RelianceHF https://twitter.com/RBI/status/1275724082290528256
Read Master of Lending Code defined by RBI.
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/45MD01092016B52D6E12D49F411DB63F67F2344A4E09.PDF
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/45MD01092016B52D6E12D49F411DB63F67F2344A4E09.PDF
Ok, Do they(NBfCs & HFCs)reduce interest rate for existing customer, or they follow MCLR or Repo linked Lending Rate? Why RBI remain silent for this issue? @RBI https://www.livemint.com/industry/banking/rbi-announces-special-liquidity-scheme-for-nbfcs-and-hfcs-through-a-spv-11593597613639.html
NBFCs or HFCs not inch back from their previous interest rate for existing customer, why @RBI extent perk if Lending institutes are not ready to extend benefits to retail customers?
@FinMinIndia https://www.livemint.com/money/personal-finance/home-loan-rates-of-public-sector-banks-turn-attractive-11593585129189.html
@FinMinIndia https://www.livemint.com/money/personal-finance/home-loan-rates-of-public-sector-banks-turn-attractive-11593585129189.html
@RBI special liquidity scheme for NBFCS and HFCS,
NBFCs & HFCs Violates the Lending rules and principles of business. why?
@RelianceHF https://www.caclubindia.com/articles/details.asp?mod_id=42064
NBFCs & HFCs Violates the Lending rules and principles of business. why?
@RelianceHF https://www.caclubindia.com/articles/details.asp?mod_id=42064
NBFCs & HFCs เชเชจเซเชเชฐเซเชธเซเช เชฐเซเช เชจเซ เชซเชพเชฏเชฆเซ เชเซเชฐเชพเชนเช เชจเซ เชเชชเชคเชพ เชจเชฅเซ, Why banks lend low interest rate liquidity to such NBFCs and HFCs?
@RBI remain silent. @DarshanaJardosh @nsitharamanoffc @RelianceHF @Nitinbhai_Patel @FinMinIndia
@RBI remain silent. @DarshanaJardosh @nsitharamanoffc @RelianceHF @Nitinbhai_Patel @FinMinIndia
why @RBI closed my ombudsman? Without any reason?
HFCs has no right to increase interest rate if they are unable to reduce in case of Repo rate decrease by RBI, this is clear cut violation of Lending Rules stated by @RBI
HFCs has no right to increase interest rate if they are unable to reduce in case of Repo rate decrease by RBI, this is clear cut violation of Lending Rules stated by @RBI
As per Clause-9(3)a, i approach banks for redressal but they denied services/request, Then i applied for ombudsman but you @RBI closed without any mentioned reason, again i applied ombudsman. Kindly look at the matter. @RelianceHF
