It is difficult for common people to get loans









can happen The RBI has advised banks to consider the applicant's debt service ratio and debt-to-income ratio in addition to credit score to decide whether to lend to a retail customer. Debt-Service Coverage Ratio (DSCR) The amount of cash available to an applicant to repay existing debt, Debt-to-Income Ratio (DTI) is calculated as a percentage of the borrower's monthly loan payments from his monthly income, as per the monthly bulletin, which increases in retail loans. While, consider using structured tools like DSCR and DTI to assess the applicant's ability Use of technology

Loans are closely monitored

According to the bulletin, the RBI is emphasizing that banks should increase their use of emerging technology ecosystems for lending. These include using account aggregators to secure borrowers' agreement to terms, strengthening credit underwriting and monitoring models.

Reserve Bank Officers Vijay Singh Shekhawat, Awadhesh Kumar Shukla, ACV | Subramaniam and Juganu Ansani wrote, Retail loans are growing rapidly in the economy. Close monitoring of retail loans has become mandatory for banks and other financial services companies. 1. Outstanding loans like personal vehicle, home loan increased by 17% annually.

2. Minor in 8 years

3. Non-

Food credit (loan) outstanding increased by 10% accounts increased by 12%

Borrowing customer accounts also grew by 15% annually