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	<title>Property News India and Featured Real Estate Stories &#187; levying penalty on pre- payment</title>
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		<title>Stop levying pre-payment penalty &#8211; RBI</title>
		<link>https://groups.commonfloor.com/news/stop-levying-pre-payment-penalty-rbi-23489</link>
		<comments>https://groups.commonfloor.com/news/stop-levying-pre-payment-penalty-rbi-23489#comments</comments>
		<pubDate>Thu, 28 Jun 2012 03:58:31 +0000</pubDate>
		<dc:creator>Lekshmi</dc:creator>
				<category><![CDATA[Mumbai]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Home loans]]></category>
		<category><![CDATA[levying penalty on pre- payment]]></category>
		<category><![CDATA[monetary policy]]></category>
		<category><![CDATA[Reserve Bank]]></category>

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		<description><![CDATA[The Reserve Bank asked urban co-operative banks (UCBs) to stop levying penalty on pre- payment of home loans on floating interest rates with immediate effect. Earlier this month, RBI had also asked the commercial banks to stop charging such penalties. The removal of foreclosure charges or pre- payment penalty on home loans will lead to [...]]]></description>
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