RBI seeks lower rates on old home loans

By Suvashree Dey Choudhury

The Reserve Bank of India (RBI) has asked banks to enable existing home loan borrowers to benefit from lower rates along with new customers, a senior official of the Indian Banks’ Association (IBA) told Reuters.

In a letter to the IBA, the central bank has asked banks to reconsider their decision after lenders told the Reserve Bank of India (RBI) last year that reducing rates on all home loans is unviable for them. Read more…