Big Change in EMI Rules From June 15 – No Extra Interest on Late Payments Under New RBI Policy
New EMI Rules – In a major consumer-friendly move, the Reserve Bank of India (RBI) has rolled out new EMI regulations that have changed how late payments will be treated by banks and non-banking financial companies (NBFCs). Starting June 15, 2025, financial institutions are no longer allowed to charge penal interest on delayed EMI payments. … Read more