RBI New Rules On EMI-Based Personal Loan: What You Need to Know And How It Could Affect Your Household Budget | Personal Finance News – Top Speed News
New Delhi: In a move to enhance transparency and protect borrowers’ interests, the Reserve Bank of India (RBI) has issued a circular pertaining to the reset of floating interest rates for Equated Monthly Instalments (EMI) based personal loans. These guidelines are applicable to all regulated entities including scheduled commercial banks (SCBs), Non-Banking Financial Company (NBFCs), and…