NBFC rules not on par with banks: RBI deputy governor
Friday, 9 February 2024
RBI deputy governor M Rajeshwar Rao highlighted the advantageous position of large finance companies over banks, citing lighter regulation. NBFCs in India, unlike global trends, expanded by 10% in 2022, controlling a significant loan share. Concerns include peer-to-peer lending risks and overdependence on bank funding, urging NBFCs to emerge from banking sector shadows.
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