Summary
This checklist outlines the penal charges applicable for non-compliance with loan contract terms as per the RBI Circular dated August 18, 2023. It details the charges for MSME and non-MSME customers, including specific amounts and monitoring frequencies for various breaches. Key areas covered include overdue instances, security creation, financial and non-financial covenants, and documentation requirements. Ensure compliance to avoid penalties and maintain transparency in lending practices.
