Press release on Recommendations of the Working group on Digital Lending – Implementation (dated – 10.08.2022) – RBI.View Pdf
Press release on Recommendations of the Working group on Digital Lending – Implementation (dated – 10.08.2022) – RBI.
- Against this background, the Reserve Bank had constituted a Working Group on ‘digital lending including lending through online platforms and mobile apps’ (WGDL) on January 13, 2021. The report submitted by the WGDL was placed on the RBI website, inviting comments of stakeholders and members of the public. Taking into account the inputs received from diverse set of stakeholders, a regulatory framework to support orderly growth of credit delivery through digital lending methods while mitigating the regulatory concerns, has been firmed up. This regulatory framework is based on the principle that lending business can be carried out only by entities that are either regulated by the Reserve Bank or entities permitted to do so under any other law , refer attachment for further details.