Digital Loan: RBI Allows Borrower To Exit During Cool Off Period; Prohibits Lenders from Accessing Mobile Phone Resources
Paying heed to concerns raised by borrowers on digital loans, like the rampant engagement of third parties, mis-selling, breach of data privacy, unfair business conduct, charging of exorbitant interest rates, and unethical recovery practices, the Reserve Bank of India (RBI) has asked all regulated entities (REs) and lending service providers (LSPs) to follow its new guidelines.
Dlas Lsps Reserve Bank Conduct Issues Integrated Ombudsman Scheme Mutual Fund Returns Ank Fixed Deposits
Source: moneylife.in