RBI plans common interest rate guidelines to increase transparency
The Reserve Bank of India has suggested a uniform regulatory structure for loan interest rates across all regulated entities, such as banks and non-banking financial companies. This initiative is designed to enhance consumer protection and transparency, while also streamlining the existing External Benchmark Lending Rate (EBLR) and Marginal Cost of Funds-Based Lending Rate (MCLR) systems. The draft regulations will be made available for public feedback prior to being finalised.
by shortkt.com✓