Is there any law against collection of high rate of interest,other charges to loans to india?
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In India ICICI etc are collecting high rate of interest besides administrative charges etc which were not informed to consumers before lending they obtain empty cheques and exploiting consumers is there any law to prevent it? What can affected do?
Is there any law against collection of high rate of interest,other charges to loans to india?Interest rates are fixed by the Reserve Bank of India. No bank in India can go against the norms and regulations of RBI. But if any bank is doing something which is against the regulations of RBI and against public interest then it can be complained in RBI.
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