Want to create an interactive transcript for this episode?
Podcast: In Focus by The Hindu
Episode: Decoding the new RBI guidelines on floating rate EMIs
Description: The RBI has issued a new circular on how banks should go about resetting interest rates on floating rate loans. Interest rates have been rising throughout this year, and customers haven’t been too happy with the way banks impose changes on their loans.But the new RBI guidelines promise to increase transparency and clarity. For one, borrowers will now be given the option to shift from a floating to a fixed rate of interest. Secondly, banks have to offer them the choice of whether they want to raise the EMI or extend the loan tenure, or do...