Tag results for 'lending service provider'
India’s Reserve Bank tightens the regulatory framework for digital lending apps
Over the past few years, digital lending apps (DLAs) have greatly aided both business users and retail customers in India. However, to curb growing malpractice and the misuse of customers’ personal data, on 2 September 2022, the Reserve Bank of India (RBI) issued official guidelines to restrict the activities and improve the oversight of DLAs. All RBI regulated entities have until 30 November 2022 to put in place adequate systems and processes to ensure that all their digital loans are in compliance with the new guidelines.
Released on Nov 10, 2022