RBI Working Group on Digital Lending – Policy Suggestions
The Reserve Bank of India (“RBI”), through a press release issued on January 13, 2021, has set up a working group on digital lending (“WG”), to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players so that an appropriate regulatory approach can be put in place.
The move is well-timed, given the recent turmoil witnessed in the Indian digital lending space, and comes on the back…