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RBI move on revolving credit hits NBFC stocks
MUMBAI: Reserve Bank of India’s proposal to bar finance companies from offering revolving credit facilities took a toll on shares of non-banking finance companies with Bajaj Finance and Bajaj Finserv together losing nearly Rs 55,000 crore in market cap. Bajaj Finance was down 5.9% and Bajaj Finserv was down 4.2%.
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economictimes.indiatimes.com
RBI plans to bar NBFCs from offering revolving credit without approval
In a recent announcement, the Reserve Bank of India has introduced fresh regulations for non-banking financial companies. Moving forward, NBFCs will be restricted to providing…
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timesofindia.indiatimes.com
RBI bars NBFCs from offering revolving credit facilities
MUMBAI: RBI has proposed a sweeping overhaul of credit facility norms for non-banking financial companies, mandating a shift to term-loan structures while prohibiting most forms…
