RBI tightens rules for housing finance companies
The revised regulations shall be applicable with effect from January 1, 2025 and will further harmonise regulations applicable to HFCs and NBFCs, the RBI said.
The revised regulations shall be applicable with effect from January 1, 2025 and will further harmonise regulations applicable to HFCs and NBFCs, the RBI said.
The Reserve Bank of India (RBI) on Monday issued a circular to all banks and NBFCs, introducing new regulatory principles for management of model risks in credit, with a view to ensuring prudence and robustness in the process.
PhonePe said it has over 535 million registered users and aims to create a powerful and seamless user experience in the secured loans category.
It said that it found in a review that some arrangements between card networks and issuers are “not conducive to the availability of choice for customers”.
For NBFCs, loans with a ticket size below Rs 1 lakh constituted over 85 per cent of loan originations by volume in FY23.
On a 30-day rolling basis, gold price has corrected 10 per cent over the past six months, while on an absolute basis it fell twice that rate.
The RBI had announced the scheme on October 9, 2020 which is available up to March 31, 2021.
RBI proposed a reduction in NPA classification norm of 180 days to 90 days.
The survey findings showed more HFCs expect a higher growth rate vis a vis NBFCs and, smaller and mid-sized entities expect higher growth rate vis-a-vis their larger peers.
Gold loan was flat in the first quarter of this fiscal because of low disbursements in April and May due to the countrywide lockdown.
