A new worry for fintech lenders
Will the uncovering of reckless and potentially fraudulent Chinese lending apps will drive the RBI to look at regulations for the sector?
Arti Singh
05 January 2021

Borrowers must only borrow from firms that are either registered with the RBI or regulated by state governments. It has also mandated digital lending platforms to state the names and addresses of banks or non-banking finance corporations (NBFC), upfront.” This warning from a 23 December notification by the Reserve Bank of India is worrisome, to say the least, for the fast-growing but troubled industry of fintech lending.

The RBI’s caution follows several complaints about borrowers falling prey to a growing number of “unauthorized” digital lending platforms and mobile apps offering payday loans, and even reports of suicides by borrowers unable to repay loans issued on these apps. Moreover, it comes as the fintech lending market has been rocked by what has been termed

What our readers say
Why subscribers love The Morning Context
High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.
Abhay Pandey, Managing partner, A91 Capital
Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.
Anupam Gupta, Investment research consultant
In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.
Jessie Paul, CEO, Paul Writer
The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.
Miten Sampat, Angel investor & former CSO, Times Internet
In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.
N S Parthasarthy, Co-founder, Mindtree
As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.
Amarjit Batra, Managing director, Spotify India
In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.
Nikhil Taneja, Co-founder and CEO, Yuvaa
Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.
Shiladitya Bora, Producer, distributor and founder at Platoon One Films
Become a TMC member
Sign up now and get free access to our starter collection.