The RBI's working group will consist of both internal and external members. Digital lending can make access to financial products and services fairer, more efficient and inclusive. From a tertiary supporting role a few years ago, FinTech-led innovation is now at the core of the design, pricing and delivery of financial products and services. Although penetration of digital transactions in the financial sector is a financially inclusive development, the benefits and certain downside risks of it are often interlinked. It is here that a balanced approach needs to be followed so that the regulatory framework supports innovation while ensuring data security, privacy, consumer protection and confidentiality.