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RBI requests NBFCs to follow ₹20,000 cash loan cap per Section 269SS of the Income Tax Act.
The Reserve Bank of India (RBI) has reportedly sent letters to non-bank finance companies (NBFCs) requesting them to follow the ₹20,000 ($240) cash loans cap, as per Section 269SS of the Income Tax Act, 1961.
This move follows actions against non-bank lender IIFL Finance for violating loan disbursal and collection rules.
The RBI's efforts aim to curb cash transactions and align with its focus on retail loans post-pandemic.
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El RBI solicita a las NBFC que sigan el límite de préstamos en efectivo de ₹ 20 000 según la Sección 269SS de la Ley del Impuesto sobre la Renta.