The RBI recently released the Recommendations of the Working Group on Digital Lending – Implementation. This directive will massively impact the way digital lending is conducted in India. Till now, this segment was thriving with minimal regulatory oversight, but now Fintech players and Banks/NBFCs will have to closely monitor their activities and ensure they follow regulations.
The primary goal of this is to safeguard customers and boost transparency into previously opaque processes.
Check out The Digital Fifth’s understanding of the RBI’s Recommendations of the Working Group on Digital Lending – Implementation.
*This report is neither a legal interpretation nor a statement of the RBI’s directive. All information is posted merely for educational and informational purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information in this document, you do so at your own risk.
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