RBI Draft Lets NBFCs Skip External Benchmarks for Loans

So, the RBI just unveiled a draft saying, 'Hey NBFCs, you can kick back on those external benchmarks for loans!' But hold your horses, they’re also tossing a life preserver to small loans, capping those usurious rates. It’s like a financial superhero swooping in to save the day. Lenders, keep it fair or prepare for my genius-level wrath. Welcome to the new loan rate era, folks!