2 weeks ago
RBI Says Revolving Credit Rules Won’t Disrupt NBFC Business
The Reserve Bank of India is planning new rules for some lenders.
A senior RBI official said these rules should not damage NBFC businesses.
He said the rules mainly explain requirements that already exist.
The RBI is also working on rules for fees charged on UPI payments made by merchants.
These fees are called merchant discount rates.
Banks will also have more freedom to manage how they attract deposits.
The official did not give a specific date for these changes.
The goal is to make the financial system clearer while allowing businesses to continue operating.
RBI Deputy Governor Shirish Chandra Murmu said proposed rules will not hurt NBFC businesses.
The draft rules are intended to clarify existing requirements rather than disrupt current operations.
The Reserve Bank of India is working on a framework for UPI merchant discount rates.
Banks are being given greater flexibility to manage deposit mobilisation.
Murmu did not provide a timeline or location for the proposed measures.
- Who
- RBI Deputy Governor Shirish Chandra Murmu and the Reserve Bank of India.
- What
- The RBI is proposing NBFC lending rules, developing a UPI merchant discount rate framework, and giving banks more flexibility in deposit mobilisation.
- Where
- No specific location is provided.
- When
- No specific date is provided.
- Why
- The proposed NBFC rules are intended to clarify existing requirements rather than disrupt current businesses.
Key facts
- Official
- Shirish Chandra Murmu, Deputy Governor of the Reserve Bank of India
- NBFC rules
- The proposed lending rules are intended to clarify existing requirements.
- Expected business impact
- Murmu said NBFC businesses will not be hit by the draft rules.
- UPI framework
- A merchant discount rate framework for UPI is under discussion.
- Bank deposits
- Banks are being given greater flexibility to manage deposit mobilisation.
- Timeline
- The article does not specify a timeline for the measures.
Sources
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