NEWS & ADVICE : PERSONAL LOAN
Non-banking finance companies are gained by the RBI ban on bank loans
By Vaibhav Aggarwal
Oct 15, 2013
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Non-banking finance companies make the most of the ban imposed by the Reserve Bank of India on consumer loans. Recently the RBI has imposed a ban on lending 0 % interest rate loans offered by banks to their customer for the purchase of goods. The managing director, Nilesh Gupta of the largest retailer, of Vijay Sales said in Mumbai that the RBI ban makes him feel as though the roof was coming down when weeks earlier than the celebratory season started.

To his enjoyment, he appreciated in one or two days that non-banking finance companies could fill up the empty space generated by the departure of banks. Business is thriving routinely during the Diwali and Navratri festival season and iPhones and TVs televisions are being vacated the shops.


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