The Reserve Bank of India (RBI) has brought the issue of long-term fixed rate loan products, including home loan, on the discussion table. On 9 November, RBI published on its website the draft report of a committee headed by K.K. Vohra, Chief General Manager, Internal Debt Management Department, RBI, assessing the feasibility of introducing long-term fixed interest rate loan products. The Vohra committee was set up after it was pointed out in the April 2012 monetary policy that while interest rates on deposits are predominantly fixed, most of the retail loan products, especially home loans, are sanctioned on floating rate, which exposes borrowers to interest rate risk..........
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