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Fixed interest rate loan products are essential: RBI

A variety of fixed interest rate loan products are essential because the banks are offering fixed rates on deposits and mostly floating rates on home loans

May 02, 2012 5:40 IST | India Infoline News Service

TheReserve Bank of India (RBI) is planning to set up a committee which would studythe issue of facilitating the development of fixed rate loan products in thebanking system, RBI deputy governor, Anand Sinha said on the sidelines of anAssocham event in Mumbai.

Accordingto Mr Sinha, a variety of fixed interest rate loan products are essential becausethe banks are offering fixed rates on deposits and mostly floating rates onhome loans, which exposes borrowers to uncertain rate movements. In its lastcredit policy review in April, the RBI had announced to set up a committee to studythe issue.

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