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RBI Issues Draft Rules On Digital Lending To Give Borrowers A Better Deal
RBI on Friday released draft guidelines on digital lending to ensure transparency in aggregation of loan products from multiple lenders by lending service providers so that borrowers get prior knowledge about all credit offers that are available.
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Recovery Agents May Be Barred From Calling Borrowers Between 7 pm And 8 am
The Reserve Bank of India on Thursday proposed stricter norms for recovery of overdue loans under which financial institutions and their recovery agents cannot call borrowers before 8 in the morning and after 7 in the evening.
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Google Asked by RBI, MeitY to Step up Checks Against Illegal Lending Apps in India: Report
The government and the Reserve Bank of India have urged Google to introduce tight checks to help curb the use of illegal digital lending applications in India. Google has been asked to ensure that only whitelisted loan apps are available for download on the Google Play Store. As per RBI’s digital lending norms, all loan disbursals and repayments ...
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India Aims to Copy China, But Not in Lending-by-App Craze
There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show a clear desire...
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RBI’s Digital Lending Norms Will Help Sector Scale Up, Become More Responsible, Industry Says
The RBI’s digital lending norms, introduced on Wednesday, have been welcomed by the industry. The new regulations will help the sector scale up and become more responsible. According to the new guidelines, all loan disbursals and repayments are required to be executed only between the bank accounts of the borrower and regulated entities like bank...
-
RBI Issues Stringent Norms For Digital Lending Services Aimed at Curbing Malpractice
The RBI has issued stringent norms for digital lending services and apps, as part of its attempts to curb malpractice in the sector. The central bank has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, digital lending entities and not the borrowers should pay fees or charges p...
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Taking Action Against Dubious Digital Loan Apps, Indians Who Help Set Them Up, Finance Minister Says
Dubious digital loan apps will face action from the government, including those originating outside the country, along with Indians who help set them up, Finance Minister Nirmala Sitharaman said on Tuesday. The minister was responding to a supplementary question in the Rajya Sabha on reports of dubious digital loan apps backed by Chinese entities w...
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Case Against J&K Bank's Former Chairman, 18 Others In Loan Case
The CBI has booked former J&K Bank chairman Mushtaq Ahmad Shaikh and 18 others for a Rs 800 crore loss to the bank caused due loans to REI Agro, which were issued in violation of guidelines, without tangible security and on fake documents
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Karnataka To Soon Issue Order On Rs 49,000 Crore Farm Loan Waiver
Karnataka will soon issue an official order with guidelines to waive off agricultural loans worth Rs 49,000 crore, giving relief to distressed farmers across the state, said an official statement today.
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Madras High Court Orders For Records After SBI Denies Loan To Student
The Madras High Court today directed a nationalised bank in Tiruvarur district to produce all records pertaining to RBI guidelines on granting educational loans
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Vidya Lakshmi, Government Run Education Loan Portal: 10 Things To Know
Following the IBA guidelines, the Vidya Lakshmi portal is operating under the aegis of Department of Financial Services, Department of Higher Education and Indian Banks Association (IBA).
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In Vijay Mallya Case In London, CBI Has A Good Day. Says Jail Cell Ready
The CBI's evidence against billionaire Vijay Mallya, accused of loan fraud in India, was admitted by a London court today, in a boost for the investigating agency that has been trying to get the liquor tycoon to stand trial in India. The agency also informed the court that a prison cell in line with guidelines issued by an European human rights bod...
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Obvious Indian Banks Broke Rules In Vijay Mallya Case, Says UK Judge
The British judge hearing the extradition case of liquor baron Vijay Mallya today said that it was blindingly obvious that rules were being broken by Indian banks which sanctioned some of the loans to the erstwhile Kingfisher Airlines.
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Maharashtra Government To Frame Guidelines For Farmers' Loan Waiver
The Maharashtra government is planning to come up with a fresh set of guidelines for an effective implementation of the loan waiver scheme for farmers, an official said.
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Exclusive: How IDBI Bank Bent Rules For Vijay Mallya According To CBI
CBI sources claim that Reserve Bank of India or RBI guidelines were ignored and the loan was granted to Vijay Mallya in three tranches, despite Kingfisher's weak financial position and low credit rating.
-
RBI Issues Draft Rules On Digital Lending To Give Borrowers A Better Deal
RBI on Friday released draft guidelines on digital lending to ensure transparency in aggregation of loan products from multiple lenders by lending service providers so that borrowers get prior knowledge about all credit offers that are available.
-
Recovery Agents May Be Barred From Calling Borrowers Between 7 pm And 8 am
The Reserve Bank of India on Thursday proposed stricter norms for recovery of overdue loans under which financial institutions and their recovery agents cannot call borrowers before 8 in the morning and after 7 in the evening.
-
Google Asked by RBI, MeitY to Step up Checks Against Illegal Lending Apps in India: Report
The government and the Reserve Bank of India have urged Google to introduce tight checks to help curb the use of illegal digital lending applications in India. Google has been asked to ensure that only whitelisted loan apps are available for download on the Google Play Store. As per RBI’s digital lending norms, all loan disbursals and repayments ...
-
India Aims to Copy China, But Not in Lending-by-App Craze
There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show a clear desire...
-
RBI’s Digital Lending Norms Will Help Sector Scale Up, Become More Responsible, Industry Says
The RBI’s digital lending norms, introduced on Wednesday, have been welcomed by the industry. The new regulations will help the sector scale up and become more responsible. According to the new guidelines, all loan disbursals and repayments are required to be executed only between the bank accounts of the borrower and regulated entities like bank...
-
RBI Issues Stringent Norms For Digital Lending Services Aimed at Curbing Malpractice
The RBI has issued stringent norms for digital lending services and apps, as part of its attempts to curb malpractice in the sector. The central bank has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, digital lending entities and not the borrowers should pay fees or charges p...
-
Taking Action Against Dubious Digital Loan Apps, Indians Who Help Set Them Up, Finance Minister Says
Dubious digital loan apps will face action from the government, including those originating outside the country, along with Indians who help set them up, Finance Minister Nirmala Sitharaman said on Tuesday. The minister was responding to a supplementary question in the Rajya Sabha on reports of dubious digital loan apps backed by Chinese entities w...
-
Case Against J&K Bank's Former Chairman, 18 Others In Loan Case
The CBI has booked former J&K Bank chairman Mushtaq Ahmad Shaikh and 18 others for a Rs 800 crore loss to the bank caused due loans to REI Agro, which were issued in violation of guidelines, without tangible security and on fake documents
-
Karnataka To Soon Issue Order On Rs 49,000 Crore Farm Loan Waiver
Karnataka will soon issue an official order with guidelines to waive off agricultural loans worth Rs 49,000 crore, giving relief to distressed farmers across the state, said an official statement today.
-
Madras High Court Orders For Records After SBI Denies Loan To Student
The Madras High Court today directed a nationalised bank in Tiruvarur district to produce all records pertaining to RBI guidelines on granting educational loans
-
Vidya Lakshmi, Government Run Education Loan Portal: 10 Things To Know
Following the IBA guidelines, the Vidya Lakshmi portal is operating under the aegis of Department of Financial Services, Department of Higher Education and Indian Banks Association (IBA).
-
In Vijay Mallya Case In London, CBI Has A Good Day. Says Jail Cell Ready
The CBI's evidence against billionaire Vijay Mallya, accused of loan fraud in India, was admitted by a London court today, in a boost for the investigating agency that has been trying to get the liquor tycoon to stand trial in India. The agency also informed the court that a prison cell in line with guidelines issued by an European human rights bod...
-
Obvious Indian Banks Broke Rules In Vijay Mallya Case, Says UK Judge
The British judge hearing the extradition case of liquor baron Vijay Mallya today said that it was blindingly obvious that rules were being broken by Indian banks which sanctioned some of the loans to the erstwhile Kingfisher Airlines.
-
Maharashtra Government To Frame Guidelines For Farmers' Loan Waiver
The Maharashtra government is planning to come up with a fresh set of guidelines for an effective implementation of the loan waiver scheme for farmers, an official said.
-
Exclusive: How IDBI Bank Bent Rules For Vijay Mallya According To CBI
CBI sources claim that Reserve Bank of India or RBI guidelines were ignored and the loan was granted to Vijay Mallya in three tranches, despite Kingfisher's weak financial position and low credit rating.
