The Delhi High Court has sought a response from the Reserve Bank of India on a PIL alleging that NBFCs and digital lending apps breach borrowers’ privacy, asking RBI to clarify enforcement of its 2025 Digital Lending Directions effectively.
Today, On 20th December, The Supreme Court set-aside the NCDRC’s 2008 decision that limited credit card interest rates to 30%. The NCDRC earlier criticized banks for charging high rates of 36% to 49% on overdue payments. The Supreme Court’s ruling will affect how banks set interest on credit card dues. This decision shows a change in financial regulation policies.