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RBI cancels registration of PC Financial for violating guidelines
short by Ashley Paul / on 24 Feb 2022,Thursday
In its first major action against a digital lender, RBI cancelled the registration certificate of PC Financial Services for "gross violations" of the central bank's guidelines. RBI said the company had violated outsourcing and know-your-customer norms. "The company was also found to be charging usurious rate of interest and other charges to its borrowers in an opaque manner," RBI added.
short by Ashley Paul / 07:47 pm on 24 Feb
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