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Give borrowers option to prepay, switch rates: RBI

RBI is worried about the long extension of home loan tenures. Deputy governor M Rajeshwar Rao on Thursday said that the regulator is not considering defining an "unreasonable elongation" as the bank's board will have to consider this. "It is for the bank board to decide having regard to the tenor and the repayment capacity of the individual borrowers," he said.

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