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RBI: Those who are meeting their needs by taking personal loans from many places are now in trouble. In the new year, the Reserve Bank has asked the loan providers to provide the credit records of the borrowers every 15 days. For this reason, any loan will now have to go through strict scrutiny. It is generally believed that personal loan is meant to meet personal needs rather than financial activities. Therefore, people who have taken a personal loan from one place will face difficulty in taking a personal loan from another place without repaying it completely.
Earlier credit records had to be given every month
The Reserve Bank has taken this new step to improve the credit risk assessment system. Its purpose is also to stop taking unnecessary loans. Earlier, credit records of borrowers had to be submitted to the Reserve Bank once a month instead of 15 days. Due to the strict rules of the Reserve Bank, the habit of taking personal loans from many places will be stopped to a great extent in the new year.
It will be easier to know the risks of the borrowers
By checking the credit records in a short time by the Reserve Bank, the ability of the loan giving agencies to check the risk in giving loan to the borrower will increase. The Reserve Bank had issued this order in August itself and had asked to implement it under all circumstances by January 1, 2025. Payment of EMI due on different days of the month is sometimes delayed by 40 days. In this way, when the report comes after a month, the correct credit data is not available. Therefore, by getting data every 15 days instead of every month, credit information will be accurate to a great extent."text-align: justify;">ये भी पढ़ें:
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