New Delhi, Aug. 13 -- The rise of digital lending platforms has made applying for personal loans convenient across the country. Still, major concerns about data protection, borrower privacy, and security have gained traction over the years. This has happened as borrowers share critical personal information online.

The Reserve Bank of India (RBI) has stepped up oversight in this space along with other government organisations. This has been achieved by framing guidelines consistently to ensure responsible lending and protection of borrower rights from exploitation.

Priyanka Kanwar, Co-founder & CEO of Falcon, says, "Digital lending's growth makes the RBI and MeitY's focus on consumer protection timely and forward-looking, and their priva...