. FLASH !!! DEPT APPEAL OF SUBRAMANYAM CASE ON 5400 TO ACP INSPECTORS' DISMISSED BY APEX COURT News from Delhi...

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It is to clarify that the Time Scale of 5400 in PB2 is required to be given to Group B officers after 4 years from the date there are placed in GP 4800 either on ACP/MACP or on promotion.

Thursday, June 7, 2012

RBI stops pre closure charges on home loans

The RBI has issued a notification preventing the charging of penalty on the pre-closure of home loans with floating interest. The banks were charging around 3% penalty on the outstanding loan amount for closure of the loan before the tenure. This move by RBI enables the customer to switch to another bank offering a lower interest rate. The notification comes with immediate effect. Removal of such charges will lead to a reduction in the discrimination between existing and new borrowers and the competition among banks will result in finer pricing of home loans with the floating rate.

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