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New RBI rules may end loan spread tinkering; to standardise rate setting across banks, NBFCs
MUMBAI: Lenders may no longer be able to tinker with loan spreads over the benchmark rate to offer new borrowers better deals than existing customers. Draft RBI rules seeking to standardise interest-rate setting across banks, NBFCs and cooperatives require lenders to maintain the spread between the benchmark rate and the loan rate for at least three years.
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economictimes.indiatimes.com
RBI invites public comments on draft rules to standardise how lenders set interest rates
The Reserve Bank of India has proposed new rules for loan interest rates. These directions aim to harmonize lending practices across various financial entities. Benchmark-linked…
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thehindubusinessline.com
RBI unveils harmonised draft Directions on interest rates on loans for all lenders
