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A prudent balance between assets and liabilities has to be maintained: RBI governor RBI Governor Shaktikanta Das on Friday sent a  clear message  to banks and  NBFCs  against charging  extra fees  and  high interest rates  on loans to customers. “In general, we have observed that guidelines on  Key Facts Statement  are followed, but a few banks and NBFCs still charge fees, etc. that are not specified or disclosed in the statement,” Das said at a press conference after the  monetary policy committee meeting . “It has also been observed in some  micro-finance institutions  and NBFCs that the interest rates on  small-value loans  are high and appear to be usurious,” the RBI Governor pointed out. The  regulatory freedom  enjoyed by banks and NBFCs in respect of interest rates and charges should be used judiciously to ensure fair and transparent pricing of products and services. The Reserve Ban...

Kuwait fire: Blaze broke out on lower floor, spread through building Around 40 people were dead, several injured in a fire that broke out in a building housing migrant workers in southern Kuwait early on Wednesday. The building belonged to NBTC, the biggest construction group in Kuwait. According to local media reports, the fire started in a kitchen in a six-storey building in Mangaf City at around 6 am local time. Major General Eid Al Oweihan, Director General of Criminal Evidence, confirmed an initial death toll of 35. Six more victims succumbed to injuries later in the hospital. At least 35 bodies were still inside the building after the fire was put out, Oweihan, said. External Affairs Minister S Jaishankar on Wednesday expressed deep shock over the tragic fire incident in Kuwait City which has resulted in dozens of deaths, including of many Indian nationals. ...