RBI proposes tighter loan pricing rules: External benchmark norms, APR caps and key changes explained for borrowers
The Reserve Bank of India (RBI) has proposed a harmonised framework for determining interest rates on loans, seeking to make lending practices more transparent and consistent across banks and other regulated lenders. The draft framework proposes board-approved pricing policies, benchmark-linked rates and safeguards against excessive pricing of small-value loans. The proposals are part of the…