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RBI Allows Key Fact Statement Requirement To All Retail, MSME Term Loans

The new instructions come in response to RBI's announcement of a key fact statement for all retail and MSME loans, in February's monetary policy address.

Pragatti Oberoi

Reserve Bank of India logo (Source: Vijay Sartape/NDTV Profit)

The Reserve Bank of India issued instructions on Monday extending the requirement of a key fact statement to all retail and MSME loans. Through this, the regulator aims to enhance transparency and reduce information asymmetry on financial products, if any. A KFS essentially comprises the important facts of a loan agreement, presented in simple and easy language. It is given to a borrower in a standardised format to help them make an informed decision.

Also Read: RBI Allows Residents To Hedge Against Gold Price Risk Using OTC Derivatives

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