EOW Bhubaneswar Freezes Four Accounts In Connection With Illegal Digital Lending
The Economic Offences Wing (EOW) in Bhubaneswar has frozen four bank accounts, in connection with an illegal digital money-lending case. The EOB shared that it had received a string of complaints from the Reserve Bank of India (RBI) as well as several victims, regarding the illegal functioning of loan applications, which are not registered under the RBI Act. Three special EOW teams are currently investigating the matter.
Tags: Crime, EOW, Money Lending, Illegal, illegal money lending
Courtesy: ANI
SBI Increases Lending Rate By 0.1% Across All Tenures
State Bank of India (SBI), being the country's largest money lender has increased its marginal cost of funds based lending rate (MCLR), on April 19. The rate has been increased by 10 basis points (bps), or simply 0.1% across all tenures. Eventually, it is believed that all lenders are likely to follow the revised lending rate, in the days to come. With this, the EMIs will now cost more.
Tags: SBI, Money Lending, LOAN, MCLR, Lending Rate
Courtesy: Press Trust Of India