Which of the following statements is/are correct?
A. The Reserve Bank of India (RBI) extended the deadline for implementation of Instructions regarding Penal Charges in Loan Accounts by one month i.e. from March 1, 2024 to April 1, 2024.
B. In this regard, all Regulated Entities (REs) must implement the new penal charges instructions for fresh loans from April 1, 2024.
C. In the case of existing loans, the transition to the new regime should be ensured by the next review/renewal date on or after April 1, 2024, but no later than July 30, 2024.
1
Only A
2
Only B
3
Both A and B
4
Both A and C
5
All A, B and C