Banks across the country are tightening lending standards in response to economic uncertainty. Rising interest rates, inflationary pressures, and concerns about repayment risks have prompted financial institutions to adopt stricter criteria. Regulators have also signaled caution, urging banks to prepare for potential downturns. As a result, borrowers are encountering more rigorous credit checks and higher thresholds for approval. The tightening is part of a broader effort to safeguard financial stability, but it comes at a cost for consumers.
