RBI proposes new rules for bank interest rate determination
pre-market1 source ↓written by the desknot a recommendation
- deadline set
- 11 Sep 2023
- take effect
- 1 Apr 2027
The Reserve Bank of India has proposed a harmonised framework for determining interest rates on loans, targeting both fixed and floating rates. This initiative aims for uniformity and transparency across banks and NBFCs, with a public comment deadline set for 11 Sep 2023. The new rules are expected to take effect from 1 Apr 2027.
Not investment advice. For informational purposes only.