Bank CEOs and directors will now be able to avail personal loans from their own bank

Bank CEOs and directors will now be able to avail personal loans from their own bank below the base rate- the floor rate below which banks do not lend to their customers. The Reserve Bank of India on Wednesday said that has banks are permitted to offer loans below base rate to their whole time directors and CEOs. 

The CEO and director can now avail loans below base rate on loan for purchase of house, car, personal computer and furniture. They can also borrow for construction of house, festival advances and avail credit limits under credit card facility