India, Sept. 30 -- The Reserve Bank of India (RBI) on Tuesday announced seven Directions and Circulars proposing amendments to existing regulations applicable to banks and other regulated entities. Three of these amendments will come into effect from October 1, 2025, while public comments are being sought on the remaining four.
Among the Directions taking immediate effect is the amendment to the RBI's Interest Rate on Advances Directions, 2016. Under the revised framework, banks will be able to reduce components of the spread on floating-rate personal and retail loans earlier than the previous three-year cycle, and may offer borrowers the option to switch to a fixed rate at the time of interest reset at their discretion.
Another amendment...