ZestMoney shuts down operations
ZestMoney issued business shutdown affecting Reserve Bank of India on December 31, 2023.
- Primary
- ZestMoney
- Counterparty
- Reserve Bank of India
- Structure
- business shutdown
- Date
- December 31, 2023
- Sub-sector
- BNPL
RBI increased risk weightage on unsecured lending by 25%, causing NBFCs to withdraw credit lines and forcing fintech shutdown.
Source: economictimes.indiatimes.com