Lenders must offer fixed-rate products for EMI-based loans, says RBI

Q: How long will it take to read this news story?

The story "Lenders must offer fixed-rate products for EMI-based loans, says RBI" has 416 words across 18 sentences, which will take approximately 2 - 4 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Lenders must offer fixed-rate products for EMI-based loans, says RBI" was covered 10 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 307 news stories per day. It's most recent story was published 4 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25039185</li><li>URL: https://beamstart.com/news/lenders-must-offer-fixed-rate-17365173412223</li></ul>

Business Standard Logo Business Standard 10h ago

Lenders must offer fixed-rate products for EMI-based loans, says RBI - Business Standard

Quick Summary:

The regulator has also clarified on the options that should be made available to address the increase in EMI in a rising interest rate scenario.

The regulated entity is required to specify the number of times a borrower will be allowed to exercise the switch option during the tenor of the loan under its board approved policy.

RBI has also said customers will also have the option to revert back to floating loans from fixed rate loans.