Unsecured loans have been a concern for RBI for a while now. Last year, it took steps to make it more expensive for banks, NBFCs to give them out in bid to deter such borrowing.
With predatory digital lending practices drawing attention, it’s crucial to look at the funding and regulatory environment within which the sector operates.
The Centre Monday blocked around 138 betting and 94 loan apps. However, there is no official word yet on exactly how many apps have been banned, which ones, and why.
Industry data show that economically weaker borrowers are being forced to take loans, due to personal or work-related circumstances, at rates well above what they can afford.
If this step even partially achieves its desired results, there will be so much dislocation in the country’s economic structure as to prove a national calamity, advocate AG Mulgaokar wrote in 1969.
Recommendations appear in Niti Aayog’s Tax Policy Working Paper Series–II. It says there is a need to shift away from fear-based enforcement to trust-based governance.
In service with the British military since 2019, it is also known as the Martlet missile. Ukrainians have also deployed these missiles against Russian troops.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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