I have a Citibank credit card. Recently, they offered me a personal loan on 22 per cent interest per annum. However, according to the terms and conditions, the amount can not be invested in mutual funds or the stockmarket and can be used for domestic purposes only. Does RBI have any rule in this regard?Yes, RBI rules require that any loan taken from the bank can not be used for ‘speculative purposes’. You have to, therefore, give an undertaking to the bank accordingly.
