RBI Asks NBFCs To Strictly Adhere To Rs 20,000 Cash Loan Payout Limit
NBFCs were asked to strictly comply with provisions of the Income Tax Act. The letter was sent from the RBI’s Division of Supervision in Thiruvananthapuram. The Reserve Bank of India (RBI) on Wednesday (May 8) sent a letter to select non-banking financial companies (NBFCs). RBI asked them to strictly adhere to income tax norms on…