RBI changed the rules for loan transfer, issued guidelines for banks

RBI Loan Transfer New Policy: The Reserve Bank of India (RBI) has issued a new guideline on Friday for transferring loans from one bank to another. In the guideline, RBI has issued a master direction of its new policy regarding loan transfer. Under this, now banks and other lending institutions will have to implement a comprehensive and board approved policy regarding this.

According to the new guidelines of RBI, these new rules for loan transfer have come into effect from the date of issue of them i.e. 24 September 2021. This rule applies to all banks and financial institutions including housing finance companies.

These rules will be applicable to these institutions

According to the Reserve Bank’s guideline, “All scheduled commercial banks, small finance banks, housing finance companies, all non-banking financial companies (including NABARD), National Housing Bank (NHB), EXIM Bank and SIDBI (except Regional Rural Banks)” This rule will apply to NBFCs).

That’s why this process of loan transfer is done

Explain that this process of loan transfer takes place between two banks or other financial institutions. With the help of loan transfer, all these banks and financial institutions use it to manage their liquidity (cash funds) as well as balance loan exposures and strategic sales.

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