Interest for delayed collection shall be paid with a minimum of RS ..... even if the interest calculateed works out to less than that amount.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Interest for delayed collection shall be paid with a minimum of RS ____ even if the interest calculateed works out to less than that amount.

A	RS.25/-
B	RS.50/-
C	RS.10/-
D	RS5/-

Explanation:

Detailed explanation-1: -2. As announced in the Monetary Policy Statement 2022-23 dated September 30, 2022, the Bank Rate is revised upwards by 50 basis points from 5.65 per cent to 6.15 per cent with immediate effect.

Detailed explanation-2: -The Reserve Bank of India (RBI) has told banks and credit card issuers that they can charge late payment fees only after three days following a missed payment.

There is 1 question to complete.