New Delhi, July 17 -- The Reserve Bank of India (RBI) has released a set of guidelines with regards to levy of prepayment charges in case of loans sanctioned to MSEs, something that tends to leave the customers disgruntled and annoyed. Read this Livemint article for details on this.

Additionally, some banks impose restrictions on borrowers to prevent them from switching their loan to another lender to seek for better terms and conditions. RBI early this month released a set of guidelines titled RBI (pre-payment charges on loans) Directions 2025.

These directions -- applicable to all commercial banks (excluding payments banks), cooperative banks andNBFCs -- will come into force from January 1 next year.

I. These directions will be appli...