Payday lending needed some guidelines, specially around regards to interest rates charged, industry insiders state. Given that the RBI has put up a committee, some action to expect.
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Payday financing may quickly see some action that is regulatory industry insiders state, as several of those companies will be in the headlines for coercive collections, high-interest prices and fraudulent company methods.
вЂњThere might be some directions around payday financing, now that the main bank has formed a committee to appear to the electronic financing room,вЂќ said a creator of a fintech lending startup. [Read more…] about Payday financing may finally see some legislation as RBI creates panel