 "banks, loans, bank regulations, fintech")
People are availing far more of certain kinds of unsecured loans than was the case before the pandemic.
Bank lending for buying consumer durables and funding of credit cards and other personal loans have risen by Rs 6.9 trillion between August 2019 and August 2023, shows a Business Standard analysis of data from the Reserve Bank of India (RBI). These loans are typically unsecured, which means they are provided without collateral. Banks consider them riskier than loans backed by collateral, which can be sold off to recover money in the event of a default.
The RBI on Friday advised banks
