RBI has introduced new norms to give flexibility to borrowers and banks in India. Here’s what you need to know
RBI’s New Norms Bring Flexibility for Borrowers and Banks RBI’s New Norms Bring Flexibility for Borrowers and Banks The Reserve Bank of India has introduced new rules designed to ease conditions for borrowers and give banks more flexibility. These changes are significant for anyone with a loan, or considering borrowing. Let’s go through what’s changed and how it affects you. What Changes Are Introduced Under the new norms, RBI is allowing several reforms: cheaper loans in some cases, better repayment terms, possibly more relaxed collateral requirements (including gold as collateral in some cases), and refined exposure limits for banks. :contentReference[oaicite:3]{index=3} Positive Impacts Lower EMI burden for some borrowers. More accessible credit: borrowers with weak credit may find it easier. Reduced risk for banks: better norms can help avoid defaults. What to Watch Out For New fees or charges banks might introdu...