The Reserve Bank of India (RBI) issues a directive preventing banks and regulated entities from imposing undisclosed fees on loans, effective from October 1. Any charges not mentioned in the Key Fact Statement (KFS) require explicit borrower consent. The KFS, a standardized document, outlines crucial loan details, including the Annual Percentage Rate (APR). RBI’s February Monetary Policy mandates comprehensive KFS disclosure, ensuring borrowers understand all costs and terms. The statement must include recovery processes, grievance redress mechanisms, and be accessible in borrower-friendly language. Detailed APR computation and transparent disclosure of third-party service charges are also required.