#revolving-credit
NBFCs have to restrict their lending only to term loans; cannot offer ‘revolving credit’: RBI Draft Directions
RBI mandates NBFCs to limit lending to term loans, prohibiting revolving credit, with exceptions for authorized credit card issuers.
RBI proposes to bar most NBFCs from offering revolving credit facilities - CNBC TV18
RBI proposes to ban most NBFCs from offering revolving credit, reshaping credit products. New rules define term loans and revolving credit.