BREAKING: @RBI has informed the #DelhiHighCourt that a regulatory framework to
support orderly growth of credit delivery through #DigitalLending methods while mitigating the regulatory concerns, has
been firmed up.
support orderly growth of credit delivery through #DigitalLending methods while mitigating the regulatory concerns, has
been firmed up.
The affidavit has been filed in a plea seeking regulation of Online Lending platforms charging exorbitant rates of interest from small borrowers.
#OnlineLending
@pbhushan1
#OnlineLending
@pbhushan1
"The said regulatory framework is expected to address the concerns relating to unbridled
engagement of third parties, mis-selling, breach of #DataPrivacy, customer grievance redressal, unfair business conduct, and unethical recovery practices," RBI adds.
engagement of third parties, mis-selling, breach of #DataPrivacy, customer grievance redressal, unfair business conduct, and unethical recovery practices," RBI adds.
It has been advised that the Regulated Entities of RBI and any Lending Services Providers/ Digital Lending Apps
engaged by them are to be mandatorily guided by the regulatory stance conveyed in the framework.
engaged by them are to be mandatorily guided by the regulatory stance conveyed in the framework.
The affidavit has been filed in view of an order of the High Court over the implementation of the report of the Working
Group on 'Digital Lending including Lending through Online Platforms and Mobile Apps'.
Group on 'Digital Lending including Lending through Online Platforms and Mobile Apps'.
Regulatory Framework To Support Orderly Growth Of Credit Delivery Through Digital Lending Methods Firmed Up: RBI Tells Delhi High Court
@Gautam_Adv28 reports
lawbeat.in/amp/news-updat…
@Gautam_Adv28 reports
lawbeat.in/amp/news-updat…
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