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.
3. Please acknowledge receipt.