RBI to set up committee to look into fixed rate loan products

The Reserve Bank of India (RBI) is planning to set up a committee to look into the issue of facilitating the development of fixed rate loan products in the banking system, RBI Deputy Governor, Anand Sinha said.“We will set up a committee soon to facilitate the development of fixed rate loan products in the market, which are presently absent in the system,” Sinha told reporters on the sidelines of an Assocham event here.
Explaining the rationale behind the move, he said it is the question of market development as consumer should get a range of products to make a choice.

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