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 New Maritime Digital Initiatives: Powering Maritime Efficiency
- 2 Financial Stability Report
- 3 SEBI Tightens Timelines for Rebalancing Mutual Fund Portfolios
- 4 RBI Relaxes PSL Norms for Small Finance Banks
- 5 Statistical Report on Agriculture and Allied Sectors
- 6 Rapid Expansion of India's Startup Ecosystem
- 7 RBI Introduces STRIPS in State Government Securities
- 8 Sagarmala Finance Corporation Limited: India’s First Maritime NBFC
- 9 India’s First International Agri Hackathon
- 10 Viksit Krishi Sankalp Abhiyan
