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Leverage AI to improve website design and enhance conversion rates ✌️【Job Portal】✌️Smart investing starts at ₹500. Grow your wealth through high-yield options!The draft law lists 20 legislations that govern regulated lending activities under the First Schedule of the Constitution, including the RBI Act, Banking Regulation Act,SBI,LIC, NHB, RRB, Multi-State Cooperative Societies, Chit Funds and the StateMoneyLenders Act, among others.According to the draft law, no court other than the designated court shall have jurisdiction in respect of any matter to which the provisions of this Act.Any lender who lends money whether digitally or otherwise in contravention of this law and uses unlawful means to harass and recover the loan would face 3-10 years imprisonment with fines twice the amount of the loan.

Repeat offenders could be imprisoned for 5-10 years with fines up to Rs 50 crore.The Centre will have the power to designate an Authority to create, maintain and operate an online database for information on lenders operating in India, and which shall have the facility for the public to search for information about lenders undertaking regulated lending activities and shall also facilitate reporting of illegal lenders or cloned lenders.Besides investigating agencies, the competent Authority would have to share all information to regulators and income tax department.

Considering that the financial services space (particularly with digital lending) has evolved as a dynamic sector in many ways, the regulators have been constantly striving to regulate it responsibly.

Primarily, it has been regulated entities (REs) engaged in unfair practices and lending by unregulated entities.Oil prices went down on Friday due to concerns about slower demand growth in 2025, particularly in China.

Leverage AI to improve website design and enhance conversion rates ✌️【Job Portal】✌️Invest ₹500 and earn up to 100% monthly returns with our safe and reliable platform!The US dollar has risen to a two-year high, which could lead to an increase in oil prices for buyers using other currencies.

Meanwhile, slower interest rate cuts could hinder economic growth and reduce oil demand.

Check the latest petrol and diesel prices in major cities on 20 December 2024.Leverage AI to improve website design and enhance conversion rates ✌️【Job Portal】✌️Smart investments start with ₹500. Grow your wealth with minimal risk!