In a bid to boost the sluggish economy before elections, the RBI Thursday cut the interest rate by 25 basis points for the second time in as many months, a move that may translate into lower EMIs for home and other loans.
In case the borrower does not have a passport, the bank should obtain a certificate in the form of declaration that the person does not have the passport, sources said quoting the Finance Ministry's advisory to banks.
Mumbai, Apr 17: Providing relief to home loan borrowers, the Reserve Bank today asked banks not to levy any penalty on pre-payment of loans taken on floating rate.“Though many banks have, in the recent past,
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