Unsecured Personal Loans To Become Expensive

Published On: November 17, 2023 - Consumer loans, barring home, education, and auto loans, will get expensive as the Reserve Bank of India (RBI) raises risks regarding the ballooning of personal loans via credit cards, NBFCs. The central bank raises risk weights by 25% for unsecured personal loans. Now, banks will keep more capital aside compared to lending unsecured loans to individuals. Consequently, the cost of borrowing for consumers may also rise. Join News9’s Shweta Kothari and Kartik Malhotra for more updates on this story.