Bank, NBFC shares fall after RBI tighten norms on personal loans

November 16, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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Shares of bank and non-banking financial companies (NBFCs) dropped by up to 7% in morning trade due to heavy selling pressure after the Reserve Bank of India (RBI) tightened norms for consumer credit. The RBI has increased the risk weight for unsecured personal loans, requiring banks and NBFCs to set aside more funds as a safety net for such advances. The new regulations do not apply to housing loans, education loans, vehicle loans, and loans secured by gold and gold jewellery.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Bank, NBFC shares fall after RBI tighten norms on personal loans

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