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RBI issues guidelines to reset floating rate loan EMI; check details
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The Reserve Bank of India (RBI) issued detailed guidelines on August 18 to reset the interest rates for equated monthly installments (EMI) in floating interest loans. “Any increase in the EMI/tenor or both on account of this shall be communicated to the borrower immediately through appropriate channels," RBI said in a release.
The RBI had said in its latest monetary policy decision that it will shortly issue the guidelines for the same. THIS COPY IS BEING UPDATED
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