RBI increased the risk weight on consumer credit exposure - by 25 percentage points, from 100 percent to 125 percent.
Banks and NBFCs will now have to set aside more capital to provide personal loans and credit cards.
RBL Bank and SBI Card were two of the banking and NBFC stocks that were hardest hit by the RBI's revised personal-loan norms.
RBL Bank's stock fell by 9.5 percent on November 17, 2023.
SBI Card's stock fell by 6.7 percent on November 17, 2023.
The RBI's revised personal-loan norms are likely to have a negative impact on the growth of unsecured lending in India.
This could lead to lower profits for RBL Bank and SBI Card - in the future.