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RBI is exploring ways to regulate online loan apps

RBI is exploring ways to regulate online loan apps
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The Reserve Bank of India (RBI) has reached out to Google, Digital Lenders Association, fintech association FACE and several NBFCs for inputs on ways to regulate digital lenders.
The RBI working group on digital lending has sought details from Google on its criteria for onboarding fintech loan apps on its Play store and the parameters these digital lenders follow.
Mumbai: The Reserve Bank of India (RBI) has reached out to Google, the Digital Lenders Association (DLAI), fintech association FACE and several non-bank lenders for inputs on ways to regulate digital lenders, three people aware of the development said. ....

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Hunting digital loan sharks

Hunting digital loan sharks
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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Court call on online loans

Court call on online loans
The petition comes two days after the banking regulator announced the formation of a working group to study all aspects of digital lending activities
The Delhi high court on Friday sought a response of the central government and the Reserve Bank of India (RBI) on a PIL seeking the regulation of online lending platforms offering short-term personal loans at exorbitant interest rates through mobile apps.
A bench of Chief Justice D.N. Patel and Justice Jyoti Singh issued a notice to the finance ministry and the banking regulator seeking their stand on the plea, which has claimed that such lending platforms charge very high interest rates on the loans given by them. ....

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RBI sets up Working Group for regulated financial sector

Reserve Bank of India (RBI) has set up a Working Group to study all aspects of digital lending activities in the regulated financial sector as well as by unregu ....

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RBI forms working group on digital lending through online platforms, mobile apps [Hindustan Times, New Delhi]

RBI forms working group on digital lending through online platforms, mobile apps [Hindustan Times, New Delhi]
Jan. 13 The Reserve Bank of India has constituted a working group (WG) on digital lending, including lending through online platforms and mobile applications, to study all its aspects in the regulated financial sector and lending by unregulated players, the central bank said in a statement on Wednesday.
The working group has been set up against the backdrop of recent spurt and popularity of online lending platforms and mobile lending apps, which the bank said has raised certain serious concerns which have wider systemic implications. ....

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