RBI Repo Rate News: To enhance transparency and provide clearer disclosures, RBI Governor Shaktikanta Das, during the monetary policy announcement on February 8, unveiled a significant directive for both borrowers and lenders. Governor Das specified that lenders will now be obligated to furnish borrowers with a Key Fact Statement (KFS). The RBI has been very serious and proactive in ensuring transparency and security across all lending processes. “The current implementation of the KFS for loans to individual borrowers ensures that the borrower is aware of all the key information regarding a loan in an easy-to-understand format. RBIs decision to mandate KFS for all retail and Ministry of Micro, Small, and Medium Enterprises (MSME) is a key step in enabling the borrowers to make an informed decision. It will give them a clear picture of what will be the actual annual interest rate plus other charges that they are paying,” Rajeev Das, CEO, I-Loan (LoanTap group) said.