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Penal interest is a common feature in various types of lending, including loans, credit cards, mortgages, and other forms of credit. The specific terms and conditions for penal interest are usually outlined in the contract or agreement between the lender and the borrower.
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RBI bars banks from Levying Penal Interest | RBI's New Guidelines for Banks and NBFCs !
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This video is for educational purposes only and should not be considered as financial advice or an endorsement of specific investments. It is essential to conduct thorough research before making any investment decisions.
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