2024-01-17 14:11:42
It will be a bit difficult to get a personal loan from the coming February. Because the Reserve Bank of India has increased the risk weight on consumer credit from 100 percent to 125 percent. Due to this the risk weight of all Non-Banking Financial Institutions (NBFC) will increase. This is said to further increase the cost of disbursing unsecured loans. Samayam Tamil
According to the current information, all the banks have to implement this new rule of RBI from February 2024. Non-banking financial institutions risk increasing their lending rates and passing this burden on to borrowers. This will cause stress to borrowers.
After this regulatory change, all RBI-regulated banks will have to maintain a certain ratio of capital based on the amount of loans they have lent. This is said to increase the risk burden of lenders. Apart from this, it is now mandatory for lenders to keep more capital reserves for riskier loans. Due to this the loan rates are likely to vary.
Earlier, when a loan of Rs 100 was given, the risk of the lending bank losing money was Rs 100. But after the new rules, this risk weight will now become Rs 125. Due to this, the lending banks are likely to increase the interest rate. The interest rate on the loan is estimated to be 11 percent, which was earlier 9 percent. Similarly, the risk weight for commercial banks issuing credit cards is now 125 percent. Now it will increase to 150 percent.
#Personal #Loan #Rules #restrictions #borrow. #loan #bank #hard #month #rbi #tightens #rules