Should Banks Inform Borrowers About Changes In Interest Rates, Give Annual Loan Statements? Supreme Court Asks RBI

Awstika Das

13 Sept 2023 10:40 AM IST

  • Should Banks Inform Borrowers About Changes In Interest Rates, Give Annual Loan Statements? Supreme Court Asks RBI

    The Supreme Court of India on Monday (September 11) requested the Reserve Bank of India (RBI) to submit an affidavit clarifying its directives concerning banks’ obligations to borrowers. Specifically, the court sought answers to three key questions: whether banks are required to provide borrowers with signed loan documents, if they must inform borrowers about changes in interest rates,...

    Awstika Das

    Awstika Das

    Awstika Das, an alumna of the Faculty of Law at the University of Delhi, and the Department of International Relations at Jadavpur University, is a Delhi-based lawyer and a multimedia journalist. She works as a special correspondent covering the Indian Supreme Court. She also hosts a weekly legal news round-up segment on YouTube.

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