Categories: Banking

RBI released report of Working Group on Digital Lending

The Working Group on Digital Lending including Lending through Online Platforms and Mobile Apps, which was constituted by the Reserve Bank of India (RBI), has submitted its report. RBI had set a WG on Digital Lending including Lending through Online Platforms and Mobile Apps, with Jayant Kumar Dash, Executive Director, RBI, as the Chairman to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players.

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In the near term, the WG suggested setting up a nodal agency in consultation with stakeholders to verify the technological credentials of the Digital Lending Apps (DLAs) of the balance sheet lenders and Lending Service Providers (LSPs) operating in the digital lending ecosystem.

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Sumit Arora

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