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Amid regulatory concerns, top Indian banks and non-bank lenders have advised fintech partners to reduce issuing small personal loans. Paytm on Wednesday announced it will go slow with loans below 50,000 rupees, aligning with RBI's cautionary stance on personal loans and NBFC lending due to rising risk concerns, prompting lenders to reconsider their lending strategies.
outlookindia.com 2021-02-02T09:09:55+05:30 Telangana: Agriculture extension officer K. Mounika ends her life after her photograph was released on social media and WhatsApp groups for defaulting on her loan taken through an instant credit app. She was 24. Delhi: Harish, 25, hangs, himself following constant harassment by app-based creditors. His photographs were also circulated on WhatsApp groups. Kerala: Mother of two Swapna, 32, and her younger daughter, just two-and-a-half, die after consuming poison. Her elder daughter, 11, is battling for life in a hospital. Swapna was shamed and ...