Going to take a personal loan... Listen to what RBI said..!?

Market experts and economists have been warning banks and financial institutions about the recent rise in unsecured personal loans among people in india for months. In this context, the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india decided on wednesday to review the levels of unsecured personal loans and their impact and to fundamentally reduce lending in this segment to banks and non-banks. Accordingly, the Reserve bank on thursday raised the risk measure on consumer credit by a quarter. That means it has increased from 100% to 125%, so what is the effect on the buyers..? RBI increased the risk measure of consumer credit for banks and non-banking financial institutions to 125 percent, banks earlier had to maintain a capital reserve of Rs 9 for a loan of Rs 100, but now banks have to maintain a capital reserve of Rs 11.25 per cent. Must keep balance.
This prevents banks from spending too much money, thereby reducing indirect lending. Along with this, RBI has raised the risk measure on credit card limit and the risk measure on bank lending to NBFCs to 100%. This new move by the RBI is limited to consumer loans and excessive restrictions are imposed only on banks. Similarly, there has been no change in the risk levels of NBFCs providing loans to home loans and small businesses. Also, there is no impact on home loans, auto loans, education loans, gold loans, MSME loans, or microfinance loans due to the change in risk metrics announced by RBI. Also, none of the big banks have excess trading allocations to consumer loans, so the RBI announcement will not affect the big banks much. But the business of NBFCs, which rely heavily on consumer loans without lending to critical sectors such as home loans and small business loans, will suffer. The credit card balance of indians increased by 30 percent to Rs 2.17 lakh crore in September. Similarly, the personal loan outstanding increased by 25 percent to Rs 12.47 lakh crore. Demand for corporate loans has slowed due to sluggish economic growth in the indian and international trade markets. As a result, big banks have given more importance to retail loans and consumer loans. At the same time, in the absence of a large increase in the income level among the people of india and the increase in prices, people are solving the financial shortage through credit cards and personal loans. At the same time, the purchase of expensive goods through consumer loans has increased in the last 2 years. There is very little chance of higher lending rates due to RBI control, mainly due to adequate liquidity in the indian banking system, although market experts predict that interest rates are unlikely to rise in the short term.