Mumbai It will not be easy to take credit card and personal loan from next month! According to the news of NDTV Profit, the Reserve Bank ie RBI is going to issue new guidelines for credit card and personal loan. The RBI wants the bank to decide the loan amount and give them the same as much as they see the credit score of people wishing to take credit cards and personal loans. The news is that RBI is worried due to rapid growth of retail loans. In March 2024, the annual growth rate of personal loan was 14 per cent. According to the news, private banks are giving more personal loans. Whereas, government banks are taking less steps in this direction.
The special thing is that the report on the financial stability of December 2023, ie financial stability, said that the loan is being done more in private banks. Due to the information about more defaults of loans without mortgages, the RBI has decided that it will give new instructions to all banks regarding giving personal loan and credit cards. In November 2023, the RBI had reduced the risk weight to 125 per cent on the loan given without mortgage. RBI will instruct banks to see the borrower’s return ability and then give loans. Common people will stop taking more loans than this and banks will also be safe.
If you look at the figures, then in the year 2024, banks had loans loans worth 1.70 lakh crore. However, the right off does not mean that banks are not charging this amount from those taking loans. Right off means that the loan should be put into a bottom account. So that the balance sheet of banks is clean and financial conditions are strong. By the way, the amount that the banks had written off last year were not just the amount of personal loan. This includes all kinds of loan amount. According to RBI rules, if a loan is not repaid for 4 years, it is necessary to fully provide it.
