Page 5 - Key Fact Statement News Today

RBI has invited comments from various stakeholders on the draft guidelines on “Fair Lending Practice - Penal Charges in Loan Accounts” by May 15, 2023.

In January 2023, 58 unauthorized apps had been reported to Google for removal

The RBI answers FAQs clarifying many provisions in the digital lending guidelines issued in September 2022 applicable to lending apps

Get latest articles and stories on India at LatestLY. The Reserve Bank on Tuesday directed digital lending entities to disclose upfront the names of of their empanelled agents authorised to contact borrowers in case of default of loan, and also intimate the details to customers before initiating the recovery process. India News | Inform Borrowers Upfront About Recovery Agents: RBI to Digital Lenders.

Regulator bars firms from storing data on cloud outside Pakistan...

Get latest articles and stories on Latest News at LatestLY. The Reserve Banks modified guidelines on digital lending that seek to protect customers from exorbitant interest rates by certain entities and also check unethical loan recovery practices will come into effect from Thursday. Latest News | RBIs Modified Digital Lending Norms to Come in Effect from Dec 1.

The RBI has announced a new regulatory framework for digital lending in India – to be implemented with immediate effect.

A regulatory framework has been made available by the banking authority for fintech companies.

The Reserve Bank of India has published guidelines that it intends to enforce for digital lending firms, recommending more transparency and control to customers.

The published RBI regulatory framework is for lending entities that are regulated by the RBI and permitted to carry out lending business