RBI to standardize lending rate rules for transparency, consumer protection

The Reserve Bank of India (RBI) is the central bank of India — a kind of 'bank for banks.'

It makes rules about how banks lend money to people and businesses.

The RBI has now said it wants all lenders to follow the same rules for setting loan interest rates.

Right now, different banks use different methods and schedules to decide rates, which can confuse customers.

The new rules aim to make loan pricing clearer, fairer, and easier to compare.

The RBI also decided to keep its main lending rate, called the repo rate, unchanged at 5.25%.

The RBI says Indian banks are healthy, with fewer bad loans than last year.

Banks are also lending more money and collecting more deposits than before.

The RBI will publish detailed rules soon and ask people for their opinions first.