What was a key reason for RBI imposing a 'cease and

desist' order on the four NBFCs recently (Oct 2024)?

A Non-compliance with KYC norms Correct Answer Incorrect Answer

B Excessive interest spreads Correct Answer Incorrect Answer

C Poor customer service Correct Answer Incorrect Answer

D Violation of environmental regulations Correct Answer Incorrect Answer

E Irregular taxation practices Correct Answer Incorrect Answer

Solution

Excessive interest spreads, among other factors, led to the RBI’s order for the NBFCs to stop lending.

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