Internet Desk. You and I, many people take personal loans to meet their financial needs and many people use credit cards. By the way, both these facilities were easily available to the people earlier. But now RBI has tightened the rules for both. In such a situation, it may be difficult for you to take personal loan and credit card.
RBI has tightened the rules related to unsecured loan portfolio of banks and non-banking financial companies. The Reserve Bank of India had issued a release regarding unsecured loans of banks. It said that now banks and non-banking companies will need to set aside more capital for unsecured loan portfolio. This capital will be 25 percent more than before. Whereas earlier 100 per cent capital was kept separately, now banks and non-banking finance companies will be required to keep 125 per cent capital separate.
According to media reports, rapid growth has been seen in personal loans and credit cards in recent times. At the same time, cases of default have also increased and cases of timely payment have reduced, hence RBI has tightened the rules of such loans.