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The Reserve Bank of India (RBI) is considering new rules for digital lending, aiming to enhance transparency. The proposed guidelines would require lending service providers (LSPs) to digitally share all available loan offers from willing lenders with borrowers. This move aims to empower borrowers by providing a clear view of their loan options, including details like lender names, loan amounts, interest rates, and key terms. The RBI also emphasizes the need for unbiased content, prohibiting LSPs from favoring any particular lender.

Not belying the expectations of senior economists, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has retained the repo rate at 6.50 per cent for sixth time in a row.The repo rate is the rate at which the RBI lends to the ...

RBI Governor Shaktikanta Das said this will provide customers with a clear idea of the actual annualised interest rate they pay on the loan

The Reserve Bank of India (RBI) has maintained interest rates and monetary stance steady for the sixth consecutive monetary review meeting, amid geopolitical tensions and uncertain food prices. The central bank forecasts the economy will repeat its performance next fiscal, expanding at 7%, and inflation will remain above the target at 4.5%. The panel's focus on the withdrawal of accommodation has led to cracks in the Monetary Policy Committee, with both decisions voted 5 to 1.

The central bank said all lending institutions will have to furnish all the charges, like processing fees and documentation charges, that are levied on the interest rate on a loan in the Key Fact Statement (KFS).