The Reserve Bank of India (RBI) Friday cautioned banks and non-banking finance companies (NBFCs) about high growth in personal loan segments and said it was monitoring these for any sign of stress.
Banks and NBFCs would be “well-advised to strengthen their internal surveillance mechanisms, address the build-up of risks, if any, and institute suitable safeguards in their own interest,” RBI Governor Shaktikanta Das said in Mumbai. “The need of the hour is robust risk management and stronger underwriting standards.
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