Having launched digital currency on a pilot basis, the RBI is exploring different use cases such as programmability, which means programming the money by tying the end use. By programming, the money can be precisely targeted for what kind of use it can be utilised. This would be beneficial for the e
Payday lending may finally see some regulation as RBI sets up panel
Payday lending needed some rules, especially around terms of interest rates charged, industry insiders say. Now that the RBI has set up a committee, some action can be expected.
RBI | Representative Image.
Payday lending may soon see some regulatory action, industry insiders say, as some of these firms have been in the news for coercive collections, high-interest rates and fraudulent business practices.
“There could be some guidelines around payday lending, now that the central bank has formed a committee to look into the digital lending space,” said a founder of a fintech lending startup.