Corporate Actions
Lenders will have to provide key facts statement about loan agreement terms

16-Apr-24   11:33 Hrs IST
Reserve Bank of India (RBI) stated in a latest update that all lenders will have to provide key facts statement (KFS) about the loan agreement terms, including all-inclusive interest cost to borrowers for retail and MSME loans, from October 1. This is being done in order to enhance transparency and reduce information asymmetry on financial products being offered by different regulated entities (REs), thereby empowering borrowers to make an informed financial decision. Currently, KFS is specifically mandated with respect to loans by commercial banks to individual borrowers, digital lending by RBI-regulated entities (REs) and microfinance loans. The harmonised instructions shall be applicable in cases of all retail and MSME term loan products extended by all regulated entities.

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Attention Investors: Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. || Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. || Pay 20% upfront margin of the transaction value to trade in cash market segment. || Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. || Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.|| KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.|| No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.