RBI Tightens Regulatory measures towards Consumer Credit and Bank Credit to NBFCs

RBI Tightens - Regulatory measures towards Consumer Credit - Bank Credit to NBFCs - TAXSCAN

The Reserve Bank of India (RBI) has strengthened the rules for consumer credit and bank credit to non-banking financial companies (NBFCs), as stated in its notification issued on November 16, 2023. To address the increase in specific areas of consumer credit, the RBI has advised banks and NBFCs to improve their internal monitoring systems. They…

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