India cenbank tightens scrutiny over digital lending apps

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India cenbank tightens scrutiny over digital...
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The Reserve Bank of India on Wednesday issued detailed guidelines that will increase scrutiny and supervision over digital lending apps and lenders who engage with them, after several complaints of malpractice against such apps.

Only regulated entities such as banks and shadow banks will be allowed to disburse and collect re-payments on loans, and this will not be left to third parties, the central bank said.

“All loan disbursals and repayments are required to be executed only between the bank accounts of borrower...

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Article automatically added to our system on Saturday, August 13, 2022

India cenbank tightens scrutiny over digital lending apps

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Article Tags: #india   #cenbank   #tightens   #scrutiny   #digital   #lending  

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