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Prasad Patwardhan (Techno-Legal professional)     29 September 2011

Penalty on part payment

Of late RBI [ and possibly National Housing Bank also ] have advised banks not to charge any penalty for part payment of Home loan.

However Upon posting this query , banks reply that they are not bound by any such advisory unless they are clearly instructed by National Housing Bank.

Any idea what is the reality as the banks are continuing to charge penalty.



Learning

 1 Replies

Nadeem Qureshi (Advocate/ nadeemqureshi1@gmail.com)     30 September 2011

Dear Parsad

till now I think there is no instruction to bank via RBI regarding this


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