India's central bank governor, Shaktikanta Das, has warned banks and non-bank finance companies (NBFCs) to avoid "all forms of exuberance" and ensure lending is sustainable. The Reserve Bank of India (RBI) recently tightened lending rules to address concerns about the risk associated with small-ticket consumer credit. Das also urged lenders to be cautious about relying solely on pre-set algorithms for lending decisions and asked non-bank lenders to diversify their sources of funding.
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