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RBI criticises banks for rising loan rates

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  • Published On: October 31, 2007
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Reserve Bank of India came down heavily on banks who took refuge in technicalities of the contract to unreasonably jack-up monthly installments of home loans. "It is not appropriate for a bank, which is a trusted institution to use technical provisions with the customer to enhance monthly installments unreasonably," RBI Governor YV Reddy said.
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