Banks in India have proposed to the Reserve Bank of India (RBI) that the first unpaid education loan should be reclassified as 'standard' and the repayment period extended. This proposal aims to help students who choose to gain work experience before pursuing higher studies. Currently, if a borrower partially repays an existing loan, it is classified as 'restructured', resulting in higher interest rates for borrowers taking out a fresh loan.
from Banking/Finance-Industry-Economic Times https://ift.tt/H07tnRY
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