DBS Bank India Exempts Registered Businesses From Prepayment and Foreclosure Fees

News Desk, News Nation 360 : To facilitate company access to finance and cash flow management, DBS Bank India Limited (DBIL) has abolished prepayment and foreclosure penalties for all Micro, Small, and Medium Enterprises (MSMEs) borrowers registered with UDYAM. Declared on MSME Day, this action demonstrates the bank's ongoing dedication to helping MSMEs in India. The waiver applies to both new and current active borrowers and is effective going forward. In line with regulatory recommendations aimed at enhancing loan transparency, this proactive measure seeks to increase borrower flexibility. It also tackles a recurring issue that many MSMEs face: foreclosure fees have frequently discouraged early repayment or refinancing, which limits their capacity to manage cash flow as efficiently as possible. Commenting on the development, Sudarshan Chari, Managing Director and Head – SME Banking, DBS Bank India, stated that they are tackling a prevalent issue that frequently restricts financial agility by eliminating prepayment and foreclosure fees. Businesses can now pay back loans early without incurring penalties and reallocate funds to more pressing needs or important areas like expansion, technology, and inventory. It complements their larger initiatives to provide MSMEs with need-based solutions that boost their resilience and open the door to sustained growth. DBS Bank India is committed to empowering businesses across their full value chain. They facilitate growth at every level. Their SME banking features solid solutions. These solutions are designed to address entrepreneurs' diverse requirements. They blend innovative products with extensive regional knowledge. With online account opening, entrepreneurs are able to rapidly and conveniently open current accounts. This eliminates tedious paperwork. The bank also offers easy business loans. These loans enable quicker availability of funds for growth and working capital. DBS Bank India assists companies in increasing operational efficiency. They also automate business processes. They are in a position to react fast to market opportunities. This is accomplished through best-in-class foreign exchange capabilities and API-driven banking integration.

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