RBI Panel To Examine Digital Lending Pitfalls Amid Rising Complaints
India, Jan. 14 -- Taking cognisance of the rising cases of harassment related to digital lending platforms the Reserve Bank Of India (RBI) has constituted a working group to suggest regulatory measures to promote orderly growth of digital lending.
The RBI said that the recent spurt and popularity of online lending platforms and digital loan apps has raised certain serious concerns which have wider systemic implications. Last month, the Reserve Bank had cautioned the public against falling prey to the growing number of unauthorised digital lending platforms and mobile apps. The working group will be chaired by RBI executive director Jayant Kumar Dash and will consist of both internal and external members, who will submit their report with...
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