The Reserve Bank of India has fined four non-banking financial companies a total of ₹76.6 lakh for non-compliance with guidelines related to peer-to-peer lending platforms, emphasizing the importance of regulatory adherence in the financial sector.
The Indian government has proposed a new bill aimed at regulating unregulated lending activities, ensuring greater transparency in the financial sector while safeguarding borrowers’ interests. This legislation comes amid growing concerns over exploitative practices in informal lending and unregulated financial institutions, which often leave borrowers vulnerable to
