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@deepakshenoy RBI should just pull the plug and shut all NBFCs and banks and run everything itself.

@deepakshenoy Doesnt it not make difficult for borrowers with less cibil/ favorable banking terms to go through nbfc route now. Will it not push them towards private lenders which are out of regulatory ambit?

@deepakshenoy So will I finally get rid of those @Bajaj_Finserv OD calls? @sanjivrbajaj

@deepakshenoy Sir, will this affect existing flexi loan accounts too ? Will they close existing accounts ?

@deepakshenoy What problem is RBI solving with this draft apart from creating one? It’s so easy to get an OD by NBFC, and it would be pain to get loans from banks by pledging securities.

@deepakshenoy this is crazy such a helpful facilty being taken away from no apparent reason

@deepakshenoy Why? This will hurt borrowers, small businesses

@deepakshenoy Over half of this debt is consumption driven and worse still the debts are rolling over from 1 to other NBFC. Unsustainable. x.com/bnmallick1965/status/208…

@deepakshenoy Credit risk looming?

@deepakshenoy Im using LAS facility, limit is 4 lakh from mirea asset loan services. How does this draft effect me ?

@deepakshenoy One Caveat, Those NBFC who have authorised by RBI to issue Credit cards are let off.....!!?!???...Means all big NBFC having Co branded credit cards are not part of this, Can you shed some light on this Sir..!?