RBI seeks granular data from NBFCs, wants to check lending standards

Purpose is also to check if interest rates being charged are in line with far practices code

The Reserve Bank of India (RBI) has sought granular data from select non-banking financial companies (NBFCs) on their loan book growth, wanting to know if there is systemic hygiene.

 

The details sought are on the outstanding portfolio, product-wise, and the annualised interest charged on them. The annualised interest slabs mentioned are: Less than ten per cent, 10-20 per cent, 20-30 per cent, 30-40 per cent, 40-50 per cent, and above 50 per cent.

 

Business Standard has seen a copy of the central bank communication to NBFCs sent last week.

 

Senior NBFC officials said that the RBI is