What all will change from October 1?

30 Sep 2019 09:18 PM

What all will change from October 1?

Updated 30 Sep 2019 09:18 PM

The Reserve Bank of India (RBI) on Wednesday issued a circular making it mandatory for banks to link all new floating rate personal or retail loans and floating rate loans to micro, small and medium enterprises to an external benchmark.This new norm will be effective from October 1.The banks are free to choose one of the several benchmarks indicated in the circular.According to circular, the banks can also choose their spread over the benchmark rate, subject to the condition that the credit risk premium may undergo change only when borrower's credit assessment undergoes a substantial change, as agreed upon in the loan contract.

PLAYLIST

Coronavirus: What people should learn from Raj's Bhilwara?

The Maulana who focuses on religion more than deadly outbreak of COVID-19 | Ghanti Bajao (07.04.2020)

Debate: Why are Tablighi Jamaatis resorting to misbehaviour?

The Maulana who threatened leaves LIVE debate in between after cornered by true facts | Sansani (07.04.2020)

India to supply Anti-Malaria drug to US after Trump's request

J&K: On-sight jawan explains the timeline of Keran encounter

LIVE ground report from Mumbai, Pune, Jaipur over COVID-19

82-year-old defeats Coronavirus in Delhi

Over 50 Jamaatis still missing in Maharashtra: HM Anil Deshmukh

People at Daryaganj vegetable market neglect social distancing

Be hopeful with Malini Awasthi amid COVID-19 outbreak | Namaste Bharat (07.04.2020)

People avoid buying milk from Gwaalas out of fear of infection

People avoid buying milk from Gwaalas out of fear of infection

MP: Woman gives birth to healthy baby, names him lockdown

Amroha residents welcome police officials with rose petals