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Financial institution refunding GPS product fee to auto loan users sticking with RBI route

Financial institution refunding GPS product fee to auto loan users sticking with RBI route

This provides a conclusion to a conflict related alleged misselling of GPS gadgets to HDFC lender’s car finance clientele throughout the term of former Chief Executive Officer, Aditya Puri.

HDFC Bank’s open public discover on June 17 about refunding GPS appliance commission to car loan consumers is definitely correct a book lender of Indian (RBI) pronouncement to the bank for that effects, as outlined by two supply informed about the growth.

“The RBI directed the lender to return the GPS device fee to car finance consumers after performing a study of the issue. Later, your budget possesses complied using this directive,” one of many resources estimated above said.

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