RBI releases working group report on digital lending

RBI releases working group report on digital lending

NS Working Group on Digital Lending including lending through online platforms and mobile apps, which was constituted by Reserve Bank of India (RBI), has submitted its report. RBI had set a WG on digital lending, including lending through online platforms and mobile apps, in which Jayant Kumar Das, Executive Director, RBI as Chairman to study all aspects of digital lending activities by regulated financial sector as well as unregulated players.

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In the short term, WG suggested setting up of a nodal agency in consultation with stakeholders to verify the technical credentials of Digital Lending Apps (DLAs) of Balance Sheet Lenders and Lending Service Providers (LSPs) operating in the digital lending ecosystem.

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Reserve Bank of India releases the report of the Working Group on Digital Lending_60.1

Reserve Bank of India releases the report of the Working Group on Digital Lending_70.1

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