New Loan Rules by RBI: After the new rules of RBI, it is no longer easy to take personal loan and take credit card loan. Because now the background check of the customers will be done before giving such loans.
RBI New Rule: Till now the process of taking personal loan and credit card loan through banks was easy. The rules for this were also not very strong. But after the new rules of RBI, now it is not easy to take personal loan and take credit card loan. Because now the background check of the customers will be done before giving such loans. In personal loan, the bank did not look at the background of the customers. Nor was there a need to pledge much goods. But now there has been a big change in the rules. Personal loan was available quickly and without any collateral. Due to which its interest rates are higher than other loans.
Why new rules were needed
According to the new rules of RBI, customers need a guarantee to take a personal loan. Due to the simple process, the trend of taking personal loan and credit card loan has increased rapidly. Along with this, the number of defaulters of such loans has also increased. Since guarantees are not taken from the customers in these loans, the banks had to face losses. But now RBI has made a rule that the financial condition of the customers will be seen first for personal loan or credit card loan. Along with that, it is also necessary to take a guarantee. So that the number of defaulters can be reduced.
What do the figures say?
There was a spurt in personal loans and credit card loans after the Corona epidemic. These rules are available quickly and its process is also simple. There was a huge jump in the number of personal loan borrowers in the year 2022. Which had increased from 7.8 crores to 9.9 crores. Not only this, the number of people taking loan through credit card also increased from 1.3 lakh crore to 1.7 lakh crore. In February 2023 also, there has been a spurt in the number of personal loan takers. In view of the rising inflation, the RBI also expressed apprehension that the number of defaulters would increase in the coming times. Due to which the Central Bank has made the rules of personal loan and credit card loan stricter by making a new rule.
