- This topic has 2 replies, 3 voices, and was last updated 11 months ago by Abigail Aaronson.
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June 1, 2023 at 6:20 am #1339Sabrina L WilliamsParticipant
Hey everyone! The RBI just released some new First Loan Default Guarantee (FLDG) guidelines for banks and fintech lenders. How do you reckon these guidelines will impact the bond between these two entities?
June 3, 2023 at 6:27 am #1340Rahul TalwarParticipantPersonally, I’m thrilled to see the positive response from stakeholders and industry experts regarding the new FLDG guidelines introduced by RBI. These guidelines provide much-needed clarity to the relationship between REs and LSPs, making it an enabling move by the regulator.
As a fintech community member, I’m excited about the potential impact of these guidelines. They serve as a catalyst for expanding micro-sized loans and fostering inclusivity in lending. Transparency is enhanced by requiring LSPs to publish guarantee arrangement details on their websites.
The directive to invoke the First Loss Default Guarantee within 120 days emphasizes timely resolution of defaults, benefiting both lenders and borrowers. These guidelines are expected to foster healthy competition, lower lending rates through robust underwriting platforms, and drive further improvements in the lending sector.
These guidelines represent a significant step forward, providing a conducive lending environment, financial inclusion, and a personalized approach to lending. The industry is optimistic about their positive effects on credit penetration, borrower actions, and the overall lending ecosystem.
June 5, 2023 at 7:40 am #1358Abigail AaronsonParticipantPersonally, I’m thrilled to see the positive response from stakeholders and industry experts regarding the new FLDG guidelines introduced by RBI. These guidelines provide much-needed clarity to the relationship between REs and LSPs, making it an enabling move by the regulator.
As a fintech community member, I’m excited about the potential impact of these guidelines. They serve as a catalyst for expanding micro-sized loans and fostering inclusivity in lending. Transparency is enhanced by requiring LSPs to publish guarantee arrangement details on their websites.
The directive to invoke the First Loss Default Guarantee within 120 days emphasizes timely resolution of defaults, benefiting both lenders and borrowers. These guidelines are expected to foster healthy competition, lower lending rates through robust underwriting platforms, and drive further improvements in the lending sector.
These guidelines represent a significant step forward, providing a conducive lending environment, financial inclusion, and a personalized approach to lending. The industry is optimistic about their positive effects on credit penetration, borrower actions, and the overall lending ecosystem.
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