India's central bank is stepping up its fight against "exuberance" in retail lending, targeting new areas including mortgage-linked "topup" loans, on concern about rising risks to the financial system, a dozen sources said, Reuters reported. The Reserve Bank of India (RBI) is tightening its supervision of the industry and nudging individual lenders to rein in credit in areas where it sees increased risks, although it has not taken any formal enforcement action, the sources with direct knowledge of the process told Reuters.
The RBI has taken a string of measures over the past six months to rein in some retail lending by banks and non-bank financial firms, and publicly warned them against "all forms of exuberance".
This story is from the March 16, 2024 edition of The Free Press Journal.
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This story is from the March 16, 2024 edition of The Free Press Journal.
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