-Business Standard Borrower cannot be charged any amount not been explicitly mentioned in a factsheet, says regulator. The Reserve Bank of India (RBI) on Monday released its final guidelines for microfinance loans, lifting an interest cap and allowing companies to have a board-approved policy to price for such lending. The RBI will continue checking that microfinance institutions do not charge usurious rates. The regulator said each entity has to disclose pricing related information...

-The Hindu It allows employers to extend unlimited advances to workers and charge an unspecified interest rate on such loans Debt bondage is a form of slavery that exists when a worker is induced to accept advances on wages, of a size, or at a level of interest, such that the advance will never be repaid. One of India’s hastily-passed Labour Codes — the Code on Wages, 2019 — gives legal sanction...

-The Hindu RBI said it regulates banks and non-banking finance companies and it does not regulate online lending platform The Delhi High Court on Tuesday observed that online lending platforms, offering short-term personal loans through mobile apps, cannot be allowed to charge exorbitant interest and processing fees. “Rate of interest should not be exorbitant. Just look at the difficulties. An expert body is required. If you people are so slow in taking action,...

-The Telegraph More than half of the country's small and marginal farmers continue to be left out of the ambit of formal finance A recent report by the Reserve Bank of India found that despite a plethora of schemes aimed at financial inclusion, only 40.9 per cent of small and marginal farmers have so far been covered by the banking system. Small and marginal farmers are defined as those with operational land...

-Newsclick.in This might help understand why there is a huge gap between the amount of loans banks claim they have given to the farmers and the amount that is actually received by the farmers. If you ever find yourself with time on your hands, and don’t know what to do with it – here is something that you can do. Just go to the website of Reserve Bank of India, and search...