Jan. 14, 2021

The Reserve Bank of India (RBI) has constituted a working group on digital lending — including online platforms and mobile apps — to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players.


  • The working group consists of both internal and external members and is chaired by Jayant Kumar Dash, Executive Director, RBI

  • The working group will
    • evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities;

    • identify the risks posed by unregulated digital lending to financial stability, regulated entities and consumers; and

    • suggest regulatory changes to promote orderly growth of digital lending.

  • It will also recommend measures for expansion of specific regulatory or statutory perimeter and suggest the role of various regulatory and government agencies. It will also recommend a robust fair practices code for digital lending players.

  • The group will submit its report within three months.

Source : The Hindu