Banks should not increase credit limits if the total outstanding unsecured credit would exceed 6 times the borrower's monthly income.
May 20, 2022The central bank says some banks are waiving interest on loans too generously, a practice which could lead clients to lose interest in timely repayment.
April 29, 2022The RBI has prescribed timelines for borrowers with exposure of INR 50 million to obtain an LEI, including customers of NBFCs and UCBs.
April 26, 2022The RBI is lifting the interest rate ceiling on microfinance loans, but says it will continue to check that lenders do not charge "usurious" rates.
March 23, 2022The new rules, introduced in December, were designed to protect the vulnerable but are making it more difficult for borrowers to obtain loans.
March 16, 2022The legislation will automatically shift tough legacy contracts to a new benchmark, preventing disputes over which rate should apply and how interest is calculated.
December 10, 2021The new law requires lenders to act responsibly at all times. They can be forced to refund interest, fees and damages for failing to do so.
December 1, 2021MAS proposes to enhance the disclosures regarding possible interest rate changes, while also allowing for borrower acknowledgements to be obtained digitally.
November 19, 2021In its financial system report, the BOJ said the delayed economic recovery is raising credit risks, particularly in the highly-leveraged real estate sector.
October 28, 2021Lower income borrowers can access interest exemptions for three months, smaller loan instalments for up to 24 months, and lower interest rates.
October 15, 2021