Senior representatives of several major non-banking financial companies (NBFCs) meet on August 14 to discuss concerns they plan to raise with the Reserve Bank of India (RBI) over a curbs on revolving credit, according to people familiar with the matter.
The NBFCs say they will submit a formal representation to the RBI through the Finance Industry Development Council, the industry body that represents NBFCs, later this week. The discussions focus on the impact of the revolving credit limit and how the rule is applied, though details of the specific changes sought are not provided in the report.
The Economic Times frames the development as part of the industry’s efforts to engage regulators on existing rules. With only one outlet provided here, there are no additional differing angles or perspectives included on the exact RBI policy, the scope of the curbs, or the NBFCs’ requested adjustments.
