Power of rbi to fixing the limit of sanction interest rate b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2012
has RBI Put the mandatory limit of sanctioning loan interest rate to co-op bank or nationalized bank that below particular interest rate bank can not sanctioned the term loan proposal?
what is truth in above sentences?
what is truth in above sentences?
Guest
Guest
(Expert)
24 July 2012
Yes, all rates are revised by the RBI. The catch is that there is a difference between the rates decide by RBI & what bank charges. They will reduce the rates (Discounts) but will never go below the RBI rate.
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