NBFCs legally charge 600% annual interest, driving explosive revenue growth
RBI‑licensed NBFCs are legally offering unsecured personal loans at annualised rates up to 600%, with board‑approved policies calling such rates 'reasonable'. The lack of an RBI cap lets them reap massive revenue jumps – some reporting revenue growth of 500‑4,800% year‑on‑year – while borrowers face predatory costs.