Penalties
A person familiar with the plan told that there is a possibility that banks will be ordered to scrap penalty on pre-payment of all retail and small corporate loans and do away with fines for failure to maintain minimum balance if the recent ‘nudge’ does not work by the Reserve Bank. Since the entire system [...] Continue Reading »
The RBI may issue orders to scrap penalty on pre-payment of all retail and small corporate loans. The central bank disputes the practice of charging pre-payment penalty on any loan since the entire system has moved to floating rates — be it deposits or loans — where rates are charged based on the prevailing markets, [...] Continue Reading »
The Commissioner of State Transport Department of Mumbai, V. N More announced that new revised auto fares will come into effect from this Sunday midnight. The commissioner was inaugurating a prepaid taxi service outside Dadar railway station. He said that the decree will come into effect in a couple of days and the signature of [...] Continue Reading »
Nearly 80 percent of the contractors hired by the Greater Hyderabad Municipal Corporation (GHMC) have to pay heavy penalties due to low maintainence of streetlights. The GHMC had awarded streetlights maintenance contract to 55 contractors by dividing them into packages. In each package 7,000 streetlights should be maintained by the contractor. And the contractor gets [...] Continue Reading »
