MC Exclusive: Payments Council, banks to seek RBI okay for entry into small-ticket loans biz

Banks are preparing to seek approval from the Reserve Bank of India (RBI) for entering the small ticket loans market. This move reflects a strategic shift towards expanding their loan portfolios to include smaller, more accessible credit products. The RBI’s approval will be crucial for ensuring that these small ticket loans are managed within regulatory frameworks and meet financial inclusion goals. This development indicates a growing focus on catering to underserved segments of the population and enhancing access to credit.