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RBI has directed hanks to charge interest on every month instead of on a quarterly basis from April 2002. Which of the following is the objective of this move of RBI?
It is a move towards 90 day norm for recognition of bad loans from the year ending March 31:03.2004.
It is a move towards introducing simple rate of interest on credit.
It is a move to introduce international norms for charging of interest on credit.
It is a move towards recovery of interest portion at monthly rents.
None of these
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