RBI's Second Quarter Review of Monetary Policy 2012-13 - 30th Oct 2012
I. Interest Rate Policy
Fixed Interest Rate Products
62. In the Monetary Policy Statement of April 2012, it was noted that while interest rates on deposits are predominantly fixed, most of the retail loan products, especially home loans, are sanctioned on a floating interest rate basis, thereby exposing the borrowers to the uncertainties of interest rate movements and associated interest rate risk. In order to examine the issue, a Committee (Chairman: Shri K.K.Vohra) comprising external as well as internal experts has been set up to assess the feasibility of introduction of long-term fixed interest rate loan products by banks.
The draft report of the Committee will be put out on the Reserve Bank’s website by mid-November 2012 inviting views/suggestions from the public/stakeholders.
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