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RBI constitutes working group on digital lending – The Economic Times Video

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The Reserve Bank of India (RBI) on Wednesday stated that it has constituted a Working Group on digital lending together with lending by on-line platforms and cell apps. This comes within the backdrop of a number of situations of suicides attributable to harassment and excessive handed restoration strategies utilized by lending apps. The Working Group will examine all facets of digital lending actions within the regulated monetary sector as properly as by unregulated gamers so that an acceptable regulatory strategy can be put in place, stated RBI. The group consists of 4 inner members and two exterior members with RBI Executive Director Jayant Kumar Dash because the Chairman of the Group. The Group has been suggested to submit its report inside three months, RBI stated.




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