The Chief Executives,
All Banks / DFIs.
Dear
Sirs/Madam,
Personal
Loans for Purchase of Consumer Durables Including Personal
Computers
Please
refer to the Prudential Regulations issued vide BPD Circular
No.35 dated 28th October, 2003.
2.
Some complaints have been received from different quarters
that Personal Computers and computer accessories are not
being financed by the banks/DFIs like other consumer durables.
The matter has been viewed seriously, and it is clarified
that personal loans may be extended for purchase of personal
computers just like other consumer durables, as stipulated
under R-25 of the Prudential Regulations for Consumer Financing.
Banks/DFIs are, therefore, advised to direct their branches
that they may extend personal loans for purchase of Personal
Computers/accessories thereof under the aforesaid Prudential
Regulation.