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The Reserve Bank of India on Tuesday pressed banks to fully transmit policy rate cuts to borrowers, as Governor Sanjay Malhotra urged lenders to support sustainable growth and improve customer outcomes, PTI reported.Malhotra met managing directors and chief executives of public sector banks and select private lenders in Mumbai, asking them to pass on the…
MUMBAI: Microfinance must now shift from basic access to delivering long-term income stability for borrowers and a clear pathway to formal credit, the RBI said. The central bank has warned that the sector’s recent regulatory freedom can become a liability if lenders do not uphold responsible conduct.Speaking at a microfinance industry network event during the…
MUMBAI: The Reserve Bank of India (RBI) has set about easing lending norms while tightening its financial oversight. Its latest rules promise cheaper and more flexible loans for borrowers, wider access to credit against gold, and easier capital-raising avenues for banks. Draft proposals, meanwhile, would extend repayment terms, sharpen exposure limits and quicken credit reporting—measures…
MUMBAI: Lenders are playing it safe, borrowers are being cautious, and fewer youngsters are seeking credit going by trends in Q1FY26, a report by credit bureau TransUnion Cibil showed.The report, which analyses credit trends for the June quarter, said portfolios are tilting towards secured lending, with collateral-backed loans growing faster than consumption-led credit. In the…
Lower-income borrowers with limited income are increasingly turning to gold loans instead of microfinance institutions (MFIs) to meet urgent financial needs. Rising gold prices, lower gold-loan interest rates and stricter MFI lending norms are driving the trend. RBI data show gold-backed loans jumped 122 per cent year-on-year until June, while the Microfinance Industry Network reported…
