The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    RBI constitutes working group on digital lending

    Copy URL
    Embed

    The Reserve Bank of India (RBI) on Wednesday said that it has constituted a Working Group on digital lending including lending through online platforms and mobile apps. This comes in the backdrop of multiple instances of suicides caused by harassment and high handed recovery methods used by lending apps. The Working Group will study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players so that an appropriate regulatory approach can be put in place, said RBI. The group consists of four internal members and two external members with RBI Executive Director Jayant Kumar Dash as the Chairman of the Group. The Group has been advised to submit its report within three months, RBI said.

    592views
    Have something to say? Post your comment
    The Economic Times