The guidelines are part of the central bank’s crackdown on loan apps
The Reserve Bank of India on Wednesday released guidelines surrounding digital lending in India as part of its efforts to regulate the industry. These are based on recommendations made by a six-member working group on digital lending, which was set up in January last year by the central bank and submitted its report in November.
The RBI has classified digital lenders into three groups:
While the guidelines have addressed each of these …
Ashwin writes on fintech and banking at The Morning Context. He joins us from The Economic Times, he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.