uniform norms

RBI proposes uniform interest rate norms for banks, NBFCs

The RBI has proposed harmonising interest rate frameworks across banks and NBFCs, aiming to standardise loan pricing and improve monetary transmission. NBFCs would move from internal prime lending rates to recognised external benchmarks or formal internal benchmarks, with standardised reset timelines for floating rate loans. The norms will impact all non-bank lenders, including housing finance companies and microfinance providers.