Why RBI is making it tough for you to get a personal loan
Unsecured loans, though small in size, can pose a risk to the financial system if their expansion goes unchecked. The RBI observed an unusual growth of approximately 23 percent in unsecured loans, surpassing the country's average credit growth of 12-14 percent. This surge has even exceeded the overall bank credit growth of around 15 percent witnessed in the past year.
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