New Problem is Emerging for FIntechs offering Digital Loans

Startups & Fintech
7

In addition to that,
the zero-interest EMI loans disbursed through Dhani’s OneFreedom card
are predatory loans nicely packaged into a card and an app. :sweat_smile:

And AFAIK, it is all legal,
no consumer protection laws against it, because…

  • they are “just an NBFC”,
  • they do not have a banking-license i.e. no banking regulations to comply with.
  • and this is not a credit-card.

Here’s the detailed analysis on this i concluded just last week… :wink:

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