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The Reserve Bank of India Monetary Policy Committee has decided to maintain the benchmark repo rate at 6.50% for the tenth consecutive time. This stability ensures that existing external benchmark-linked home loan floating rates will remain unchanged in the near term.
Central regulatory authorities have issued revised guidelines for digital lending applications, mandating clear disclosure of annual percentage rates (APR), key fact statements (KFS), and cooling-off periods for all consumer credit products across India.
Indian consumers spent over ₹1.78 lakh crore using credit cards in the recent quarter, driven by travel bookings, electronics, and e-commerce shopping. Delinquency rates for prime cardholders continue to stay below 1.4%, showcasing disciplined repayments.