"Timely action" helped curb the rise in unsecured credit: RBI Governor Das.
Speaking at a gathering hosted by the RBI's College of Supervisors in Mumbai, Das stated that the regulator had implemented these macroprudential limitations after observing indications of weakened underwriting standards and improper evaluations while granting unsecured credit.
Governor of the Reserve Bank of India (RBI), Shaktikanta Das, stated on Thursday that the increased credit growth in the segment has been moderated by the central bank's prompt move last year to tighten lending standards for unsecured loans.
Speaking at a gathering hosted by the RBI's College of Supervisors (CoS) in Mumbai, Das stated that the regulator had implemented these macroprudential limitations after observing indications of weakened underwriting standards and improper evaluations while granting unsecured credit.
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