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USURIOUS LENDING PRACTICES
RBI lifts restrictions on Sachin Bansal's Navi FinservThe Reserve Bank of India lifted restrictions on Navi Finserv. This decision follows the company's rectification of deficiencies after seve...02 Dec, 2024, 10.00 PM IST- MFIs reduce lending rates as RBI voices concernsSeveral microfinance lenders in India have reduced their lending rates in recent months following regulatory scrutiny from the Reserve Bank...13 Nov, 2024, 09.11 PM IST
- RBI bans four finance companies from sanctioning and disbursing new loansThe Reserve Bank of India has banned four finance companies, including Navi Finserv and DMI Finance, from issuing new loans due to excessiv...18 Oct, 2024, 05.30 AM IST
- Are variable pay, incentives driving risky growth at NBFCs?As India's NBFC sector grows rapidly, driving financial inclusion, some of these companies are taking risky paths to growth through exubera...09 Oct, 2024, 02.43 PM IST
- Micro lenders cut rates, vow to improve ops as RBI governor flags 'usurious' chargesThe industry body Microfinance Institutions Network (MFIN) announced that microfinance entities have begun reducing loan interest rates and...01 Aug, 2024, 06.28 PM IST
- RBI cancels registration certificate of P C Financial Services operating 'Cashbean' app"The CoR of the company has been cancelled on account of supervisory concerns such as gross violations of RBI directions on outsourcing and...24 Feb, 2022, 06.57 PM IST
- Mostly Welcome Microfinance NormsThe RBI paper now seeks to streamline and update microfinance regulation across all regulated entities, which makes perfect sense. The rate...23 Jun, 2021, 11.55 PM IST
- ED attaches Rs 76.67 crore of Chinese companies in instant loan app fraud cases"The Fintech companies have agreement with respective NBFCs for disbursement of loans through digital lending apps. The amount attached by ...11 May, 2021, 08.26 PM IST
- World Bank to invest $35 million in Manapurram FinanceIFC may also provide advisory services to bring global best practices to MFL’s risk management systems and help it build capacity in MSME l...28 May, 2019, 04.24 PM IST
- Payment bank rules by month-end, telcos, India Post remain frontrunners: RBIInstead of having local area banks focussed on two or three districts, there are suggestions that there should be all-India small finance b...14 Nov, 2014, 06.45 AM IST
- Investors return to micro-finance space with investments worth Rs 869 crore in FY13Even as lenders battle over the controversial laws by the state govt, ten investors, domestic as well as foreign, have invested $158 mn in ...29 May, 2013, 07.05 AM IST
- Citibank, HSBC, Barclays, Standard Chartered charging upto 50% interest rates on unsecured loansMost of these high-priced loans are consumer loans, akin to microfinance lenders that face a possible cap on lending rates.08 Jul, 2011, 10.41 AM IST
- Regulate but don't strangulate MFIs: Vikram Akula, SKS MicrofinanceWhile the microfinance industry has sought a Rs 1,000-crore lifeline from banks, its embattled poster boy, SKS Microfinance chairman and fo...17 Nov, 2010, 02.55 AM IST
- RBI sets its face against pre-payment penaltyIf implemented, this would erode one of the key elements of easy profits for banks which charge as much as 2% of the loan amount in some ca...08 Nov, 2010, 01.04 AM IST
- Banks may find it tough to ensure microfinance companies don’t charge high ratesBanks will have to put in place a mechanism to verify that microfinance institutes they finance do not charge exorbitant rates to the final...21 Sep, 2010, 03.26 AM IST
- MFIs not to cap ratesThe microfinance industry has decided not to work towards a ceiling on interest rates.23 Apr, 2010, 02.15 AM IST
- Credit, but at what price?Unsecured loans may sounds tempting, but, they carry high interest rates and also other charges.12 Jul, 2007, 06.01 AM IST
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