Personal Loan
RBI’s New Rules Make Personal Loans HARDER to Get! Check What’s Changed!
Anthony Lane
The RBI has introduced new personal loan rules, making it harder to secure multiple loans. Starting January 1, 2025, banks will update credit reports every 15 days instead of monthly, allowing lenders to assess borrowers' financial health in real-time. This move aims to curb over-leveraging and loan defaults. Borrowers must now maintain a good credit score and manage debts responsibly to improve loan approval chances.
