RBI cancels registration of 5 NBFCs due to irregular lending practices

"The CoR of the (five) NBFCs have been cancelled on account of violation of RBI guidelines on outsourcing and Fair Practices Code in their digital lending operations undertaken through third party apps which was considered detrimental to public interest," the RBI said.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TDF4dQZ
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