RBI WORKING GROUP ON DIGITAL LENDING

About:

• 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.