The RBI's ruling thus serves as a much-needed safeguard for consumers who often fall for the lure of quick loans without fully understanding the predatory interest rates that follow
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The companies were found to be charging excessive interest rates, which did not comply with the guidelines outlined in the apex bank’s regulations
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The regulator may circulate some tighter regulatory norms to suppress the credit risks in the coming future, notably for the loan segment with higher delinquencies
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The gold loan portfolio of non-banking financial companies (NBFCs) to expand by 17-19 per cent in FY25 amidst yield pressure moderation
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Hewlett Packard Financial, SMFG India Credit, and Muthoot Vehicle and Asset Finance fined for lapses in KYC, cybersecurity, and liquidity management
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