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    Bumrah should feature in both the remaining Tests: Kumble

    Bumrah should feature in both the remaining Tests: Kumble

    Gill being fired up at Lord’s didn’t have the right effect on his batting returns, says Manjrekar

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    Jadeja hailed as Team India's MVP after incredible fight at Lord’s

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    'Win the toss and bat, put runs on the board': Kaif advises Gill to follow Kohli’s approach  

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    Arsenal sign Olivia Smith for world-record women's transfer fee

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    When we played on gravel pitches in Brazil, I'd imagine playing for United: Matheus Cunha

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    I knew with calm and composed approch we can pull off the chase: Deepti Sharma

    'Aussie Ashes line-up is going to be like it is right now', opines Ponting

    'Aussie Ashes line-up is going to be like it is right now', opines Ponting

    Jitesh Sharma to represent Baroda in 2025/26 domestic season after leaving Vidarbha

    Jitesh Sharma to represent Baroda in 2025/26 domestic season after leaving Vidarbha

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RBI Governor warns against Over-reliance on bank credit for NBFCs

ENEWSTIME Desk by ENEWSTIME Desk
November 22, 2023
in Business
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Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday expressed grave concern over the high “concentration” of credit that NBFCs were availing from banks to finance their lending operations and said this has emerged as “a risk” in the system.

Addressing the FIBAC 2023 conference here, Das said that there was a need for NBFCs to raise funds from other sources and reduce their dependence on banks to scale down the risk due to the high “interconnectedness”.

He also said that many lenders were depending too much on the algorithms to make their decisions and there was a need to analyse data more carefully before making investment decisions.

The RBI Governor also underlined the fact that very high rates of interest were being charged by lenders in the case of microfinance and there was a need to usher in more transparency and need to avoid “usurious” rates of interest in order to promote economic growth.

At the same time, Das said all business and financial entities need to capitalise on new opportunities and make investments to expand capacities, skill human resources and adopt new technologies to ensure growth.

“The prospects are at a new high in the country and this is the time to make it India’s moment,” he added.

*Except for the heading, this story has not been edited by The enewstime.in and has been published from an Agency feed.

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