RBI gets complaints against digital lending applications
By MYBRANDBOOK
Minister of State for Finance, Anurag Singh Thakur in a written reply to Lok Sabha has said that the Reserve Bank of India (RBI) intimated that it has received complaints against 1,509 digital lending applications
He said that the central bank has received complaints against 1,019 unregistered or unregulated digital loan applications and 490 registered NBFCs which offer digital lending.
December, the RBI had warned the public about the unauthorised digital lending platforms/apps with an appeal to verify the antecedents of the service provider, he added.
To study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players, a working group (WG) has been set up, so that an appropriate regulatory approach can be put in place, he said.
The WG was set up amid rising incidents of harassment relating to online lending.
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