RBI plans to restrict NBFCs from providing revolving credit
On Thursday, the Reserve Bank of India suggested prohibiting non-banking financial companies (NBFCs) from extending revolving credit options. Through a draft update to its Credit Facilities Direction, the central bank proposed that NBFCs limit their offerings to term loan products only. The RBI described a term loan as a credit facility based on funds that involves a set amount, which must be paid back based on a set timeline.
by shortkt.com✓