Wasn’t sure which thread this would fit under, here goes.
“Certain components of personal loans are recording very high growth. These are being closely monitored by the RBI for any signs of incipient 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,” said Governor Shaktikanta Das in his statement, adding that robust risk management and stronger underwriting standards are the “need of the hour”.
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