RBI new loan rules: If you have ever gone to take a loan from the bank and your application was rejected, then now there is a big good news for you. The Reserve Bank of India i.e. RBI has made a big announcement regarding monetary policy on June 6, due to which taking a loan will now be easier than ever. RBI has relaxed an old rule imposed on banks, which is called CRR i.e. Cash Reserve Ratio. With this decision, banks will have more money left, and they will be able to give loans freely to the customers.
CRR i.e. Cash Reserve Ratio is the part that banks deposit with the Reserve Bank from their deposits. Earlier banks had to keep more money in reserve, due to which they did not have that much money left to give loans. But now RBI has announced a cut of 1 percent in it. Its meaning is clear – banks will now have to keep less money in reserve and they will be able to use more money to give loans to customers.
Now this reduction will not be done at once, but in four parts so that the banking system can gradually get used to the new system. The first reduction will be implemented in September, then October, November and the last reduction will be at the end of November. RBI believes that after these changes, additional cash of about Rs 2.5 lakh crore will come into the banking system, which will increase the economic strength of the banks and their ability to give loans.
Now the treasury of banks will be full
RBI Governor Sanjay Malhotra has informed that from January 2025 till now, RBI has already put permanent cash of Rs 9.5 lakh crore in the market, due to which liquidity remains in the country’s economy. This money has reached the banks directly, which will now be used to give loans to the general public.
Not only this, India’s foreign exchange reserves have also become so strong that it can easily cover the import of goods for up to 11 months. This means that the economic condition of the country is stable and there will be no problem in repaying the money borrowed from abroad.
However, meanwhile RBI also admitted that foreign portfolio investment i.e. FPI is on a slight decline this year and has come down to just $ 1.7 billion. But despite this, India’s economic foundation remains strong and this is the reason why RBI is able to make such big announcements with confidence.
Inflation will also remain under control
Now let’s talk about inflation, which is the biggest issue in the life of every common man. RBI has also given relief regarding inflation this time. While earlier the inflation rate was estimated at 4% for the entire financial year, now it has been reduced to 3.7%. Meaning there will be less burden on your pocket in the coming months.
The special thing is that inflation is expected to be only 2.9% in the first quarter, which is much lower than the earlier estimate of 3.6%. It can be 3.4% in the second quarter, and is expected to increase marginally to 3.9% in the third. It has been considered stable at 4.4% in the fourth quarter.