The Central Bank intends to combat Russians' dependence on loans.
The regulator plans to develop new rules for payday loans.
This is stated in a report for public consultation, published on the Bank of Russia website .
In the Russian Federation, they may introduce a limitation on the number of simultaneously active loans to only one.
The regulator notes that many citizens enter into several agreements within a month, applying to different microfinance organizations (MFOs).
The Central Bank emphasizes that the reason for this is not only standard consumption patterns (food, fuel, medicine), but also the repayment of previously taken loans, payment of sports bets, etc.
Because of this, the Bank of Russia is considering limiting the number of open loans to one.
In addition, it is proposed to introduce a so-called "cooling-off period". At least 3 calendar days must pass from the closure of one loan to taking out a new one.
They will also reduce the maximum overpayment level from 130% to 100%.
These measures are still under discussion and no specific decisions have been made yet.
