NBFCs seek RBI rethink on revolving credit curb

NBFCs seek RBI rethink on revolving credit curb

Senior representatives of some of the country's largest NBFCs met on August 14 to discuss the issues they intend to raise with the RBI. The lenders will make a formal representation through the Finance Industry Development Council, the industry body representing NBFCs, this week, according to the people.

RBI seeks NBFC feedback on revolving credit rules, stresses compliance and risk controls

The Reserve Bank of India (RBI) has sought feedback from non-banking finance companies (NBFCs) on draft guidelines proposed for regulating revolving credit facilities, while emphasising the need for stronger compliance, internal audit and risk management frameworks, a report has said.