Yes. RBI just does things when it believes nbfcs are taking the role of banks. They get lobbied by big banks to stop the show. Same playbook followed to stop slice, uni, etc
Actually, I have been getting too many calls from Bajaj Finance for CCs and Credit Products.
I presume most people who are fiscally prudent will deny but sub prime lending will potentially lead to a credit bubble.
I hope not too worrisome.
Is it due to Credit bubble by subprime lending? I have heard this before
news says not following digital lending guidelines- so yes subprime lending
but whats the internal news on this?! anyone knows?
Link: https://boringmoney.in/p/rbi-wants-banks-to-ditch-some-funds
Summary:
Why did this happen? Slice already owns an NBFC license. What does this help them achieve? "to better serve their shared mission and reach more consumers who currently lack access to basic banking services"
It helps them achieve a lot. They can take deposits, extend loans, issue cards without needing a partner and maybe st...
After the recent RBI mandate to banks and NBFCs against unsecured personal loans, the lenders have pulled back their hands from digital lending. My company has already started facing the impact. Tomorrow onwards we won't be able to disbu...
