RBI Regulations

If you feel that your rate isn't decreasing when it should, it's probably time for a check-up. Since the rules changed a few years ago, they’re supposed to be more aligned with the RBI. Ask the HFC for a formal breakdown of your loan's benchmark , it's your right to know.

Many people find that switching to a bank like SBI or HDFC is better in the long run because their rates are directly tied to the repo rate, meaning they are much more transparent. It’s a bit of a process to transfer, so weigh the total savings against any switching costs first.

RBI rules are clear: claims must be settled within 15 days, or banks pay penalties. So why is it still such a battle at the branch? Is it just untrained staff, or are banks intentionally making it hard to keep funds? How do I get through the red tape?

It may be because of RBI's e-mandate framework. On the merchant's payment settings, re-register your card details, and registering a bank will send the OTP for mandate registration.

If you are still facing the issue, then have a word with the bank; they will solve your issue.

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