The central bank's decision is rooted in concerns about the lack of consistency and transparency in the application of penal interest by different banks. Post author By admin Post date August 18, 2023 RBI Puts an End to Compound Penal Interest on Loans: Major Banking Policy Change Introduction The Reserve Bank of India (RBI) has taken a significant step in favour… 18 August 2023, • 2 mins read Tags EXIM, financial, interest, NBFCs, penal, Penal Charges, Reserve Bank of India, Revenue Generation, SIDBI