New Delhi, Jan. 14 -- In a bid to regulate digital loans, the Reserve Bank of India (RBI) has set up an internal working group to create a regulatory framework for digital lending firms as the recent spike in such loans sparked concerns.

According to the RBI statement on Wednesday, the working group will study digital lending activities in the regulated and unregulated financial sector so that an appropriate regulatory approach can be put in place.

''Recent spurt and popularity of online lending platforms/ mobile lending apps ('digital lending') has raised certain serious concerns which have wider systemic implications. Against this backdrop, a Working Group (WG) is being set up to study all aspects of digital lending activities in the ...