Appliance Makers Brace For A Hit As RBI Tightens Grip On Consumer Credit

The Reserve Bank of India raised risk weights on unsecured personal loans, consumer durable loans and credit card dues.

The measures could have a direct impact on consumer sentiment as loans will get costlier.

This, in turn, could hurt the still-fragi this festive season ions to months ng machines.

The Consumer Electronics and Appliances Manufacturers Association has termed the move "unfair".

The Thursday ua the Reserve Bank of India hallenging for the consumer durable industry.

Weak consumer sentiment amid inflationary setting impacted sales of several product categories.

Unseasonal rains as well as competitive pricing further added to the woes.

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