By Admin 
Bank Loan News: If your CIBIL score is less than 730 then taking a loan may be a little difficult in the future. After the implementation of RBI’s new ECL Direction-2026, banks can be more careful than before while giving loans.
Banking experts believe that people with low credit scores may face difficulty in getting loans approved. Even if a loan is available, the interest rate on it may be high. In some cases, banks may also ask for additional guarantee or pledge of any property. It is a matter of concern that there are a large number of people in the country whose CIBIL score is below 730. In such a situation, those taking home loan, car loan or education loan next year may have to face more difficulties than before.
New rules will come into effect from April 1, 2027!
The new rules of RBI may come into effect from 1 April 2027. Generally, if a customer does not pay the loan EMI for 90 days, the loan comes in the category of NPA, but in the new rule, banks will have to estimate in advance which loan is at risk of default in future. Accordingly, they will have to keep some amount aside in advance.
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Banking sector experts believe that this change may have an impact on the earnings of banks. According to reports, due to this, there may be an additional burden of up to Rs 42 thousand crore on the banking sector.
Experts believe that people having good credit score will have the possibility of getting loan at lower interest rates and better terms. This is why banks can give priority to customers with CIBIL score of 730 or more. It is estimated that there are about seven crore people in the country whose credit score is 730 or more.
How will banks estimate future risk?
Under the ECL framework, banks will not just see whether the customer is currently paying the EMI or not. Many other things will also be taken into consideration before giving the loan. As-
• What is the past record of the customer?
• Any change in CIBIL score
• Decrease or instability in income.
• Risk of job loss
• Loan-to-value (LTV) ratio
• Current debt status
By looking at all these things, banks will estimate what is the risk of loan default in future.
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