India’s central bank tightens rules on personal loans & credit cards
Edited By WION Video Desk
Published: Nov 18, 2023, 06:40 IST | Updated: Nov 18, 2023, 06:40 IST
Tightening the reins on personal loans and credit cards, India’s central banks’ stricter rules are poised to reshape borrowing costs and challenge lenders. Concerns over the rapid growth in these segments led the RBI to instruct banks to set aside more capital. This decision follows repeated warnings from RBI governor Shaktikanta Das about the escalating risks associated with certain personal loans.
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