Digital lending NBFCs have requested the Reserve Bank of India to allow them to offer pre-approved credit lines on the UPI platform. They argue this will broaden access to low-cost, short-term credit, particularly for those new to credit, aligning with the RBI’s objectives. The RBI recently granted this permission to small finance banks.
IRDAI clears investments in private companies, eases infrastructure funding norms
IRDAI has expanded insurers’ investment options by permitting investments in private limited companies, infrastructure SPV debt and repo, reverse repo and government securities lending transactions.