Reserve Bank forms panel to suggest measures for promoting orderly growth of digital lending

Zee News The Reserve Bank of India said, "Recent spurt and popularity of online lending platforms/mobile lending apps (‘digital lending’) has raised certain serious concerns which have wider systemic implications."As per the Terms of Reference (ToR) for the WG, it has been asked to evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities, and "identify risks posed by unregulated digital lending to financial stability, regulated entities and consumers". https://ift.tt/eA8V8J January 21, 2021 at 04:07PM The Reserve Bank of India said, "Recent spurt and popularity of online lending platforms/mobile lending apps (‘digital lending’) has raised certain serious concerns which have wider systemic implications."As per the Terms of Reference (ToR) for the WG, it has been asked to evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities, and "identify risks posed by unregulated digital lending to financial stability, regulated entities and consumers".

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