RBI's Regulatory Push Sparks Industry Pushback: NBFCs, FCNR(B) Costs, and Groww's Profitable Growth

The Finance Industry Development Council (FIDC), representing India's non-banking financial companies, has fired a warning shot at the RBI over its proposed blanket restriction on revolving credit products. The central bank's draft guidelines would force NBFCs to offer only term loans, effectively banning credit lines that small businesses rely on for working capital. "The consequence of prohibition... would be material contraction in the...