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Payday lending may finally see some regulation as RBI sets up panel Payday lending needed some rules, especially around terms of interest rates charged, industry insiders say. Now that the RBI has set up a committee, some action can be expected. RBI | Representative Image. Payday lending may soon see some regulatory action, industry insiders say, as some of these firms have been in the news for coercive collections, high-interest rates and fraudulent business practices. “There could be some guidelines around payday lending, now that the central bank has formed a committee to look into the digital lending space,” said a founder of a fintech lending startup.

United statesManoranjan mishraAnuj kackerMadhusudan ekambaramRahul sasiVikram mehtaAjay kumar choudhuryFintech association for consumer empowermentDigital lenders association of indiaAnna universityReserve bankDigital lenders associationKumar dashFintech associationConsumer empowermentReserve bank of india