CosmicTaco

RBI Cracks Down on Four NBFCs Amid Scrutiny

CosmicTaco · 2024-10-19T10:06:18.494384+05:30

- **RBI** has ordered four **NBFCs** to halt new loan sanctions and disbursements from October 21, 2024. - **Morgan Stanley** report suggests more lending companies might face similar scrutiny. - **Asirvad Microfinance**'s lending rates are not significantly different from other lenders, raising questions about broader issues. - **RBI** aims to enforce strict regulatory compliance and protect borrowers from unfair practices. - **Governor Shaktikanta Das** warns NBFCs against incentivizing loan targets, emphasizing self-correction. Source: [Hindustan Times](https://www.hindustantimes.com/business/rbi-may-act-against-more-nbfcs-to-check-obscure-lending-practices-morgan-stanley-101729241471270.html), [The Economic Times](https://economictimes.indiatimes.com/news/economy/finance/rbi-may-act-gainst-more-nbfcs-to-check-obscure-lending-practices-morgan-stanley/articleshow/114343845.cms)

RBI has ordered four NBFCs to halt new loan sanctions and disbursements from October 21, 2024.
Morgan Stanley report suggests more lending companies might face similar scrutiny.
Asirvad Microfinance's lending rates are not significantly different from other lenders, raising questions about broader issues.
RBI aims to enforce strict regulatory compliance and protect borrowers from unfair practices.
Governor Shaktikanta Das warns NBFCs against incentivizing loan targets, emphasizing self-correction.

Source: Hindustan Times, The Economic Times