FM Nirmala Sitharaman Supports RBI's Move to Tighten Unsecured Loans

2023 • 6min • News • Business


Published On: November 24, 2023 - Backing the tightening of unsecured personal loans by the Reserve Bank of India (RBI), Finance Minister Nirmala Sitharaman asks NBFCs and small finance banks to heed step in controlling the excessive growth of such loans. RBI, in a recent clampdown, assigned higher risk weights to unsecured loans. In a statement directed towards lenders, FM said, “Be careful... don't go too far, too soon.” Join News9’s Shweta Kothari and Kartik Malhotra for more on this story.