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Loan means that banks, credit cooperatives and other institutions lend money to units or individuals who use money, and generally agree on interest and repayment date. Loans in a broad sense refer to loans, discounts, overdrafts and other borrowing funds. Banks put concentrated money and monetary funds out through loans, which can meet the needs of social expansion and reproduction and promote economic development. At the same time, banks can also obtain loan interest income and increase their own accumulation.
The full name of CBRC is: China Banking Regulatory Commission. China Banking Regulatory Commission is a ministerial-level institution directly under the State Council, People's Republic of China (PRC), which is authorized to supervise and manage banking financial institutions in a unified way and safeguard the legal and steady operation of the banking industry.
The CBRC needs to formulate rules, regulations and measures to supervise banking financial institutions; Draft relevant laws and administrative regulations, and put forward suggestions for formulation and revision. To examine and approve the establishment, alteration, termination and business scope of banking financial institutions and their branches.
Online lending is also becoming a trend. With the advantage of the Internet, all the steps of loan application can be completed without leaving home, including understanding the application conditions of various loans, preparing application materials and submitting loan applications, which can be completed efficiently on the Internet. Due to the lack of bank credit system, overdue repayment sometimes occurs.
A large number of lender information published on the Internet platform, many of which are in the name of "loan companies" and "financing companies". In fact, financial institutions must be approved by the state to engage in financial services such as credit financing. Those who engage in financial activities without authorization are often investigated for "illegal fund-raising" and "illegal absorption of public deposits" and disrupting the order of financial management.
The Office of the Leading Group for the Special Work on Internet Financial Risks issued the Notice on Immediately Suspending the Examination and Approval of Online Small Loan Companies, and decided that the supervision departments of small loan companies at all levels shall not approve new online (Internet) small loan companies, and prohibit the newly approved small loan companies from carrying out small loan business across provinces (autonomous regions and municipalities).