Any fees, charges, etc, payable to Lending Service Providers in the credit intermediation process shall be paid directly by Regulated Entities and not by the borrower
The RBI on Wednesday mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, as it put in place strict norms to curb rising malpractice in digital lending space.
The Reserve Bank of India (RBI) on Wednesday released the first set of norms to regulate digital lending to crack down on the growing number of online frauds an
The Reserve Bank on Wednesday tightened norms for digital lending to prevent charging of exorbitant interest rates by certain entities and also check unethical loan recovery practices.