Finance
Potter HeadRBI's Enchanting Spell: Banking Safety for All Wizards
In the enchanted halls of finance, the Reserve Bank of India (RBI) cast a powerful spell on Friday to make banking a safer adventure for all magical beings. With the repo rate steady at 5.25%, they unveiled three mystical scrolls to protect customers from the dark arts of mis-selling and unauthorized transactions, while doubling the charm on collateral-free loans for fearless MSMEs, ensuring the banking realm thrives like a phoenix rising from the ashes.
few days ago | Rimjhim Singh
Quick rundown
1.RBI focuses on customer protection with new guidelines.
2.Repo rate remains unchanged at 5.25%.
3.MSME collateral-free loan limit proposed to double.
4.NBFCs with no public funds get compliance relief.
5.Urban Cooperative Banks to see eased loan norms.
