RBI has released the report of the Working Group (WG) on digital lending including lending through online platforms and mobile apps. The thrust of the report has been on enhancing customer protection and making the digital lending ecosystem safe and sound while encouraging innovation. The report suggests several recommendations such as verification of digital lending apps by a nodal agency, creation of a separate legislation to prevent illegal digital lending activities etc.RBI has released the report of the Working Group (WG) on digital lending including lending through online platforms and mobile apps. The thrust of the report has been on enhancing customer protection and making the digital lending ecosystem safe and sound while encouraging innovation. The report suggests several recommendations such as verification of digital lending apps by a nodal agency, creation of a separate legislation to prevent illegal digital lending activities etc.taxmann.com Latest Statutory HappeningsRead More
