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flag RBI requests NBFCs to follow ₹20,000 cash loan cap per Section 269SS of the Income Tax Act.

flag 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. flag This move follows actions against non-bank lender IIFL Finance for violating loan disbursal and collection rules. flag The RBI's efforts aim to curb cash transactions and align with its focus on retail loans post-pandemic.

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