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    Question

    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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