š¦ In recent times, apart from banks, private non-financing organizations have accelerated in giving loans. These non-financing companies provide easy loans.
They are coming forward to provide loans at high interest rates with low CIBIL score. Due to this, many people are coming forward to take loans. These days the number of people taking home loans and personal loans has increased tremendously. And before the festive season, the Reserve Bank of India (RBI) has announced one thing. It will make it difficult for people to take loans. The RBI has expressed concern over the trend of taking personal loans in the country. Banks and non-banking financial companies (NBFCs) have been strongly reprimanded for this.
š Recently, while presenting his bi-monthly monetary policy review, RBI Governor Shaktikanta Das expressed concern over the rise in personal loans in the country. He said that some types of personal loans from banks and NBFCs are seeing very rapid growth. This can create problems. RBI Governor Shaktikanta Das said that the Reserve Bank is keeping an eye on this trend. It has strengthened its surveillance system for this. Not only this, the central bank has also asked banks and NBFCs to strengthen their internal surveillance mechanisms. š¼ššļø
