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Kotak mahindra bank personal loan tracking status

Payday lender Cash Converters will refund consumers millions of dollars and pay an infringement notice after an investigation by the Australian Securities and Investments Commission (ASIC). Key Points. Refunds on 118,000 small kotak mahindra bank personal loan tracking status contracts Cash Converters to refund 10.

8 million in fees ASIC says Cash Converters violated responsible lending obligations. The refunds relate to 118,000 small amount credit contracts, or loans. ASIC had raised concerns that the company had failed to make reasonable inquiries into consumers' income and expenses and the loans they issued were "unsuitable". Cash Converters has paid a total of 1. 35 million for 30 infringement notices from ASIC.

It has also agreed to refund eligible consumers 10. 8 million in fees through a remediation program overseen by an independent expert who will report to ASIC.

Kotak mahindra bank personal loan tracking status

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Kotak mahindra bank personal loan tracking status