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UNETHICAL RECOVERY PRACTICES
RBI may frame rules to curb mis-selling by banks: Dy guv M Rajeshwar RaoSpeaking at an event on financial inclusion, Rao raised concerns about the persistent challenges the microfinance sector faces, including a...- No work, no salary, still Rs 5 lakh due? Techie's shocking job exit story goes viralAn Indian software professional faced an unexpected demand for Rs 5,00,000 after withdrawing from a job offer on his joining day. Despite p...
- Fraud cases in banking sector rises in first half of FY'24: RBI reportTo address concerns relating to unbridled engagement of third parties, misselling, breach of data privacy, unfair business conduct, chargin...
- RBI governor urges fintech companies to form self-regulatory body"In the dynamic and ever-evolving world of business, it is easy to get caught up in the pursuit of revenue, bottom lines and the relentless...
- Banks, NBFCs must be ready for market risks, tech threats: RBIFast rising interest rates have strained borrowers' repayment capabilities. Companies are facing demand slowdown while rising input costs a...
- RBI's modified digital lending norms come into effect from December 1The RBI stated in a detailed set of guidelines for digital lending that the main concerns were unbridled engagement of third parties, mis-s...
- Home Ministry asks states, UTs to take urgent action against predatory Chinese lending appsIt said a large number of complaints have been reported across India related to illegal digital lending apps that provide short-term loans ...
- India to prepare a 'whitelist' of digital lending appsThe central bank has been asked to prepare a list of legal digital lending apps while the government will help ensure that only such apps c...
- Digital lending norms aimed at protecting consumers: RBI Deputy Governor M Rajeshwar Rao"The framework is designed to strike a balance between the need for an innovative and inclusive system while at the same time ensuring that...
- RBI's digital lending rules designed to protect customers from online frauds: DG M Rajeshwar Rao"The framework is designed to strike a balance between the need for an innovative and inclusive system while at the same time ensuring that...
- Borrowers must be allowed to exit digital loans sans penalty in initial look-up period: RBIThe working group on "Digital Lending includes Lending through Online Platforms and Mobile Apps" provided feedback, which was used to solid...
- RBI set to put onus on lenders to monitor loan appsThe Reserve Bank of India's working group on digital lending is all set to lay down strict governance and regulatory rules for loan recover...
- RBI is exploring ways to regulate online loan appsThe Reserve Bank of India (RBI) has reached out to Google, Digital Lenders Association, fintech association FACE and several NBFCs for inpu...
- Infosys skips FY-21 guidance citing Covid-19“Considering the business uncertainty emanating from Covid-19, the company is unable to provide guidance on revenues and margins for FY21 a...
- Infosys tanks 16% on whistleblower blow as investors vote with their feetThis was the 16th time the stock has tanked in double-digit in a single day since January 2000.
- GSK rolls out code for ethical marketingFaced with charges of unethical marketing practices which have long tarnished its image and reputation, the pharmaceutical industry is tryi...
- 'Bank losses due to NPAs push up interest rate for borrowers'Rajasthan Governor Margaret Alva today said women's credit history contrasts sharply with defaults by corporates.
- AP plans suicide cover, wants MFIs to foot the billMicrofinance companies will have to compensate Rs 5 lakh to families of debt-hit borrowers who commit suicide.
- After Andhra ordinance, Centre may frame policy to regulate MFIsThe Andhra Pradesh government issued the controversial ordinance to regulate microfinance institutions despite the central government’s ple...
- MFIs won’t lend over Rs 50K to single entityMicro finance institutions (MFIs) will embrace a written code of conduct from April to improve their dealings with borrowers belonging to t...
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