RBI tells banks to give choice to borrowers either to opt for fixed or floating interest rates basis at the time of resetting the loan
RBI on Thursday advised all the regulated entities (Res) like banks and NBFCs (REs) that at the time of sanction, they shall clearly communicate to the borrowers about the possible impact of change in the benchmark interest rate on the loan leading to changes in EMI and/or tenor or both. Successively, any increase in the…