RBI proposes uniform interest‑rate framework for all regulated lenders
The RBI unveiled a principle‑based framework to harmonise loan‑pricing rules across banks and NBFCs, aiming for greater transparency and comparable EMI calculations. While the move won’t overhaul existing MCLR/EBLR mechanics or affect current EMIs, it forces lenders to adopt uniform benchmark reset dates and day‑count conventions. The change could tighten consumer protection and improve monetary‑policy transmission.