The bank neglected to benchmark the interest rates of certain floating-rate retail loans and loans to MSMEs to an external benchmark lending rateThe Reserve Bank of India ( RBI ) has levied a monetary penalty of ₹63,60,000/- on DCB Bank Ltd. for its failure to comply with certain directives regarding ‘Interest Rate on Advances’.The RBI found that DCB Bank had failed to reset interest rates at the prescribed intervals in certain MCLR ( Marginal Cost of Funds based Lending Rate ) linked floating rate advances.Additionally, the bank neglected to benchmark the interest rates of certain floating-rate retail loans and loans to Micro, Small, and Medium Enterprises ( MSMEs ) to an…
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RBI Fines DCB Bank Ltd ₹63.6 Lakh for Interest Rate Non-Compliance
