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Surge In Unsecured Loans By Fintechs Led To RBI’s Tightening Of Lending Norms: Bernstein

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Surge In Unsecured Loans By Fintechs Led To RBI’s Tightening Of Lending Norms: Bernstein

According to a report by brokerage Bernstein, there has been a significant increase in unsecured lending by Indian banks and fintechs, leading to tighter lending norms by the Reserve Bank of India (RBI) in November last year. The report highlights the rapid growth of fintechs in the country, which has further driven the increase in unsecured lending. The RBI increased the risk weight for consumer credit exposure of banks and non-banking financial companies, aiming to increase the cost of unsecured loans. The growth in consumer loans has outpaced household credits, raising concerns among regulators. Despite regulatory measures, digital lending remains attractive for India's fintech sector.

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