In this Financial Literacy Week, the Reserve Bank of India suggests taking a loan from regulated entities like banks, NBFCs and HFCs. It is a good practice as they are regularly supervised and monitored.
If you take a loan from regulated organisations, then you can avail loans at a very low rate of interest and also the risk is very low.
RBI reassures the general public that the Indian banking system is safe and stable and there is no need to panic on the basis of any rumours.
RBI also posted on this on their social media handles. They also shared a video on youtube where a currency note pops out of the laptop screen to suggest that one should always avail loans from a regulated entity such as RBI, NBFC and HFC. Because this is a safe way to avail loans. Unlike informal organisations, these organisations are properly supervised and maintained.
Here is the link: https://twitter.com/RBIsays/status/1358637664958783489
