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RBI's New Loan Transparency Framework: Benefits for Borrowers
RBI's new framework enhances loan transparency, aiding borrowers in comparing costs effectively. By 2027, banks and NBFCs will follow clearer rules on loan spreads and APRs, ensuring fairer lending practices. This initiative includes a ceiling on APR for small loans, promoting informed borrowing decisions.
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File ID: #383065Original Source: LiveMint Money ↗
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