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The Reserve Bank of India (RBI) has increased the risk weighting for lenders offering unsecured loans. 

This is a pre-emptive measure to curb bad loans in the unsecured loan books of banks and non-banking financial companies (NBFCs).

According to Jatinder Handoo, chief executive officer (CEO), Digital Lenders Association of India, “The prime and super-prime segment will continue to get good deals. However, people with a low credit score or no credit history, first-time job market entrants, and those with low incomes trying to enter the formal financial system will face some challenges in accessing small-ticket loans.”

Costs may rise, availability