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Several digital lenders and microfinance companies have approached the Reserve Bank of India to introduce a formula for calculating interest rates on small-ticket loans. They argue that a regulatory formula would ensure fair pricing, prevent business disruptions, and reduce the risk of regulatory actions. The industry seeks clarity and a framework modelled after practices in other countries.
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The city of Gary could receive $10 million throughout the next two years to implement the Safety Action Plan, which focuses on improving roadways.
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Digital rights campaigners say it shows the regulator has given into Big Tech and been "defanged."
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