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The Times of India
The Times of India
Business
PTI

THE TRUTH ABOUT: Rbi issues strict norms for digital lending to curb malpractice - Caught on Camera

RBI re Mumbai Reserve Bank

MUMBAI: The RBI on Wednesday mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, as it put in place strict norms to curb rising malpractice in digital lending space.

Besides, the Reserve Bank of India said digital lending entities and not the borrowers should pay fees or charges payable to Lending Service Providers (LSPs) in the credit intermediation process.

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