OREANDA-NEWS The State Duma Committee on the Financial Market has approved for the second reading a bill that will launch the practice of self-banning consumer loans in Russia. It follows from the amendments to the document that its entry into force is now scheduled for January 15, 2025, Interfax writes.

Among other changes, the agency calls the opportunity to apply for self-prohibition through the MFC from July 15 next year, as well as the withdrawal of educational loans with state support from the ban.

According to the project, designed to protect Russians from fraudsters and reduce their creditworthiness, citizens will be able to establish in their credit history a ban on loans from banks and loans from microfinance organizations (MFOs). Such an opportunity was going to be introduced as early as June 1.

The State Duma approved the bill in the first reading in the fall of 2023. Deputies will consider its adjusted version at a meeting on February 20.

Earlier it became known that 74 percent of Russians surveyed supported the idea of self-locking loans, and the share of those wishing to establish it against themselves increased from 28 to 45 percent over the year, while only six percent of respondents opposed the proposal as a whole.