Banks must tell borrowers the entire cost of a loan including fees and other charges: RBI

The statement is mandated to disclose processing fees and additional charges associated with the loans.

"There are other processing fees in MSMEs cases, like upfront fees for term loans and processing fees for working capital. These are always disclosed separately. I think now he wants (them) in the key financial statement (too), the consolidated rates also, (so that) the borrower should get some idea that if all this is added up and converted to a rate, what would it look like," Ashwini Kumar Tewari, Managing Director, State Bank of India explained.