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NBFCs Key to Viksit Bharat, Must Ensure Fair Lending: FM
Mint Mumbai
|July 10, 2025
Nirmala Sitharaman said NBFCs are the first point of banking contact for millions
On-banking financial companies (NBFCs) will be central to India's journey towards becoming a Viksit Bharat (developed nation) by 2047, but they must follow responsible and transparent lending practices, finance minister Nirmala Sitharaman said on Wednesday.
Addressing the NBFC Symposium 2025, organized by the department of financial services (DFS) in New Delhi, Sitharaman said interest rates must remain reasonable, rate cuts must be passed on to borrowers, and all charges must be clearly disclosed, free from hidden fees or complex terms.
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