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RBI cancels Rhino Finance's licence over unfair lending practices
short by Srishty Choudhury / on Thursday, 2 March, 2023
The Reserve Bank of India (RBI) on Thursday said that it has cancelled the registration certificate of Assam-based Rhino Finance Private Limited due to irregular lending practices. Rhino Finance violated RBI guidelines on outsourcing and Fair Practices Code in its digital lending operations undertaken through third-party apps which were considered detrimental to the public interest, RBI said.
read more at Moneycontrol