RBI bans zero interest loans on EMI to credit card holders

MUMBAI: In a move that is likely to dent retailers' festive season sales, the Reserve Bank of India has barred 'zero per cent interest' schemes offered by banks to credit card holders. Banks will now be able to recover dues through equated monthly installments only when customers are billed regular interest charges. 

RBI tightens norms for lending against gold jewellery

MUMBAI: Seeking to keep demand of gold under check, the Reserve Bank of India has tightened norms for loans against pledge of gold jewellery.