Mumbai, Aug. 5 -- The Reserve Bank of India (RBI) plans to draft rules to standardize the pricing of loans by regulated entities, aiming to improve transparency and consumer protection, governor Sanjay Malhotra said on Wednesday.

"In order to enhance transparency in lending rates and strengthen consumer protection, it is proposed to harmonise and standardise the regulatory framework on interest rates on advances for all regulated entities," Malhotra said in a statement on developmental and regulatory policies released alongside the monetary policy statement.

The RBI's monetary policy committee decided to maintain status quo on rates, keeping the key policy repo rate unchanged at 5.25%.

RBI proposes to harmonise the guidelines across le...