RBI forms panel to suggest measures for promoting digital lending
India
Published: Wednesday, January 13, 2021, 19:05 [IST]
Mumbai, Jan 13: Amid rising incidents of harassments relating to online lending, the Reserve Bank on Wednesday constituted a working group to suggest regulatory measures to promote orderly growth of digital lending.
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The RBI said that the recent spurt and popularity of online lending platforms/mobile lending apps 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 regulated financial sector as well as by unregulated players so that an appropriate regulatory approach can be put in place, the central bank said.
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RBI sets up panel to suggest measures for promoting digital lending
Amid rising incidents of harassment relating to online lending, the Reserve Bank on Wednesday constituted a working group to suggest regulatory measures to promote orderly growth of digital lending. The RBI said that the recent spurt and popularity of online lending platforms/mobile lending apps 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 regulated financial sector as well as by unregulated players so that an appropriate regulatory approach can be put in place, the central bank said.