New loan rules from April 1: Three-lender cap rule – What it means, how it will affect borrowers

A new rule is coming for borrowers which will limit their access to just a few lenders. MFIN introduced a four-lender cap in August last year when it was found that high indebtedness triggered defaults. The limit is intended to prevent overleveraging. Additionally, this measure is expected to escalate the pain for both lenders and borrowers immediately.

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