Floating Interest Rate
On 18th August, 2023, the Reserve Bank of India (RBI) asked all regulated entities (REs) to give personal loan borrowers an option to switch over from a floating rate to a fixed rate regime at the time of resetting interest rates.
RBI said that the borrowers will also be given the choice to opt for enhancement in EMI or elongation of the tenor.
- A floating interest rate is an interest rate that changes periodically.
- The rate of interest moves up and down, or "floats," reflecting economic or financial market conditions.
- The change in interest rate with a floating rate loan ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 Centre Launches White Revolution 2.0
- 2 Centenary Celebration of ICAR- NISA
- 3 Review of the NBFC Sector
- 4 Vertical Fiscal Imbalance
- 5 Finance Minister Reviews Performance of RRBs of NE Region
- 6 PM E-DRIVE Scheme: Accelerating India's Shift to Electric Mobility
- 7 Differential Benefits of Electricity in Rural Areas
- 8 Centre Notifies Galathea Bay as a Major Port
- 9 10 Years of Make in India
- 10 Spices Board Unveils SPICED Scheme
