healthy credit score

What are the key factors that affect personal loan interest rates?

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What are the key factors that affect personal loan interest rates?

India’s household savings as a proportion of our GDP is declining. In its latest Financial Stability Report (June 2024), the Reserve Bank of India has also noted that while net financial savings have declined in 2022-23, financial liabilities have gone up thanks to retail loans for consumption and investment. Rise of personal loans The personal … Read more

Banks to report credit card data to CICs biweekly: How will it impact you and banks?

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Banks to report credit card data to CICs biweekly: How will it impact you and banks?

On 8th August 2024, the Reserve Bank of India (RBI) made an important announcement about the frequency of credit information reporting by banks/NBFCs to credit information companies (CICs) like CIBIL and others. What is this announcement, from when is it applicable, and how will it help banks/NBFCs and borrowers? Let us understand. Credit information to … Read more