The head of the Central Bank Elvira Nabiullina proposed to reduce the maximum rate on microloans 
1 percent per day, and thus get rid of loans at 365 percent per annum. This was stated by the head of the Central Bank Elvira Nabiullina at a speech in the State Duma, RIA Novosti reports.
“We think that the time has really come, perhaps, to reduce the maximum loan rate for microfinance organizations. We did it, the laws were passed. I think it's time to do it, ”said Nabiullina. She was supported by the speaker of the State Duma Vyacheslav Volodin, who urged “to think about people, and not about those who are engaged in usury on this topic.” According to him, “there are a lot of complaints, people are practically ruined.” The total cost of the loan can reach 365 percent per annum.
Earlier, Nabiullina more than once drew attention to the negative consequences of the high debt burden of Russians. In September, at a speech in the Federation Council, she proposed to limit the amount of overpayment on loans, “so that people can see the fair cost of a loan with all the” wound options. ” The Central Bank also announced the consideration in the fourth quarter of 2021 of the issue of changing the formula for calculating the debt burden indicator. The regulator intends to increase macroprudential premiums in order to complicate the issuance of loans for long periods and the issuance of loans to citizens with a high debt burden.