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.
Starting next year, fintech firms can only charge a maximum of 0.3% interest per day for a loan intended for consumption which will fall to 0.1% in 2026, the country s Financial Services Authority (OJK) said. Currently the maximum is 0.4% interest per day.
Fintech software has revolutionized the financial industry, providing businesses and individuals with powerful tools to streamline financial processes,
Fintech loans have emerged as a game-changer in the financial industry, revolutionizing the way individuals and businesses access credit. As technology