India's biggest NBFCs fight RBI's revolving-credit ban: 'Rs 2 lakh crore at stake'
India's largest NBFCs met Aug 14 to coordinate their challenge to RBI's draft curb on revolving credit products, and will lodge a formal protest via industry body FIDC this week. They argue the ban endangers over Rs 2 lakh crore of lending (90% to MSMEs) and hands banks an unfair competitive edge.