{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Daybreak","title":"At RBI-licensed NBFCs, 600% annual interest is board-approved, ‘reasonable’, and perfectly legal","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/a6ff133c\"></iframe>","width":"100%","height":180,"duration":1710,"description":"If you Google \"paisa de do\", dozens of near-identical websites appear. Some, offering cash in 15 minutes. The interest rate on some of these loans is 600% per annum and the lenders are RBI-licensed.\nOne borrower started with a Rs 75,000 loan. Within five months, he was paying Rs 6 lakh a month across eight different loan apps just to stay afloat.\nThe Ken's Mutasim Khan found 25 such NBFCs, some reporting revenue growth of 3,000 times in a single year. In 2024, the RBI flagged 45% annual interest as predatory. These lenders charge more than ten times that. And nobody has stopped them yet.\nTune in.\nDaybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.","thumbnail_url":"https://img.transistorcdn.com/uPitovxKRYBGX6AWg9UrET6s3nAdkS-Ci9uZvsZj7vk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85ODhl/ZWM4NmEwZTcxZjZk/MDRlYjAzNTNkMjJi/ZGQ2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}