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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Will the uncovering of reckless and potentially fraudulent Chinese lending apps will drive the RBI to look at regulations for the sector?
“Borrowers must only borrow from firms that are either registered with the RBI or regulated by state governments. It has also mandated digital lending platforms to state the names and addresses of banks or non-banking finance corporations (NBFC), upfront.” This warning from a 23 December notification by the Reserve Bank of India is worrisome, to say the least, for the fast-growing but troubled industry of fintech lending.
The RBI’s caution follows several complaints about borrowers falling prey to a growing number of “unauthorized” digital lending platforms and mobile apps offering payday loans, and even reports of suicides by borrowers unable …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
A local fintech deal to consolidate operations, feedback on Saudi Arabia’s proposed IPO rules, and Ras Al Khaimah’s casino economy.
