RBI Cracks Down on Digital Lending Apps Mandatory Reporting from May 13
The Reserve Bank of India (RBI) has issued a significant directive aimed at enhancing transparency and borrower protection in the digital lending ecosystem. As per the new guidelines under the RBI (Digital Lending) Directions, 2025, all regulated entities (REs) must report the details of their Digital Lending Apps (DLAs) on the RBI’s new Centralised Information Management System (CIMS) portal starting May 13, 2025. The step seeks to build a more trustworthy lending environment and reduce the risks associated with unregulated apps and unfair practices.
The RBI has launched a centralized portal — CIMS — that mandates all regulated lenders to upload information regarding their digital lending platforms by June 15, 2025. A public directory of DLAs will be published on July 1, 2025, allowing borrowers to verify the legitimacy of lending apps. This is seen as a timely intervention to curb rising complaints about unauthorized digital lenders, data privacy violations, and predatory lending practices.
REs must assess third-party LSPs for,
Summary/Static | Details |
Why in the news? | RBI Cracks Down on Digital Lending Apps: Mandatory Reporting from May 13 |
Launch Date of CIMS Portal | May 13, 2025 |
Deadline to Submit Data | June 15, 2025 |
Public Directory Release | July 1, 2025 |
Who Must Comply | All RBI-regulated entities with digital lending apps |
Main Objective | Transparency, borrower protection, regulation of digital lending platforms |
Supervising Body | Reserve Bank of India (RBI) |
Reference Document | RBI (Digital Lending) Directions, 2025 |
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