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FAIR LENDING PRACTICES
Sebi plans to ease KYC rules for FPIs, offer more clarity to global capitalIndia’s financial watchdog, Sebi, is gearing up to make the investment terrain more inviting for foreign investors by reforming the Know Yo...- ET Prime Special Series: Multibagger or IBC - Part 59: Japan taught it. Tata bought it. Now EVs will test this auto ancillaryThis is a story about a company that is simultaneously an asset and an anomaly. An asset because it builds a tangible, necessary product, g...
- RBI’s Swaminathan warns banks on rising risks beyond balance sheetsIndian banks face a new era of resilience. RBI Deputy Governor Swaminathan J highlighted the need to manage complex uncertainties from geop...
- Unified Lending Interface is a good start. Now comes the hard partIndia's new Unified Lending Interface, ULI, promises to fix credit access. However, its true impact depends on fintech companies.
- Harassed by loan recovery agents? Know your legal rights and 6 steps to fight backBorrowers struggling with debt often face harassment from recovery agents through abusive calls, threats, public shaming, and unauthorised ...
- Fuelled by lending boom, DPDzero bets big on AI-led debt recoveryAs India’s unsecured lending boom accelerates, collections are emerging as the next major battleground for fintechs and lenders.
- Loan recovery practices of NBFCs must be fair, respectful: FM Nirmala SitharamanFinance Minister Nirmala Sitharaman urged NBFCs to adopt fair and empathetic loan recovery practices, aligning with RBI guidelines, especia...
- Private banks misreporting complaints as queries, says RBI Governor Shaktikanta DasReserve Bank of India Governor Shaktikanta Das criticized private sector banks for their handling of customer complaints at a Mumbai confer...
- 4 ways banks are overcharging borrowers on loan interest rates, as per RBIDate for interest charging by banks: The Reserve Bank of India did onsite review of banks and other financial institutions to check how len...
- RBI directs lenders to review their lending practices in line with fair practice codeSome lenders are resorting to certain unfair practices in charging interest rates such as charged interest on loans from the date of sancti...
- New RBI rules on penal charges on loans: Will there be any upper limit/cap for imposing penal charges?the RBI stated that the transition to the new punitive charges regime should occur on or after April 1, 2024, but no later than June 30, 20...
- Penal charges in loan accounts: RBI gives 3 more months to banks, NBFCs to implement modified normsRegulated entities, which include banks and NBFCs, have been asked to ensure that the instructions are implemented in respect of all the fr...
- RBI stops banks, NBFCs from compounding penal interest on loansThe Reserve Bank of India (RBI) has issued a circular on August 18, 2023 on penal charges that banks and other lending institutions can cha...
- RBI cancels registration of two entities for regulatory lapsesThe Reserve Bank of India on Monday said it has cancelled registration of Pune-based Kudos Finance and Investments and Mumbai-based Credit ...
- Illegal digital lending apps driving citizens to suicide, says Ministry of Home AffairsThe ministry has noted that "many of these illegal lending apps may not be regulated entities by RBI and are using bulk SMS, digital advert...
- RBI cancels registration of 5 NBFCs due to irregular lending practices"The CoR of the (five) NBFCs have been cancelled on account of violation of RBI guidelines on outsourcing and Fair Practices Code in their ...
- After RBI rap, fintech grouping comes out with code of conduct for industryRBI has cautioned public against dealing with unauthorised mobile apps and financial technology firms (fintechs) and not to fall prey to th...
- RBI asks banks, NBFCs to disclose digital lending agents upfrontTo make digital lending more transparent, the Reserve Bank on Wednesday directed banks, NBFCs and digital lending platforms to disclose ful...
- P2P firms to form an association for a fair code ahead of RBI guidelinesP2P companies are in the process of forming an association with an aim to create a fair practice code within the industry players and grapp...
- Revised RBI norms for NBFCs to improve asset quality: AssochamIndustry chamber Assocham today said the revised guidelines on fair practices code for non-banking finance companies (NBFCs) will bring ade...
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