RBI implements recommendations of the working group on digital lending
On August 10, 2022, the Reserve Bank of India (“RBI”) issued a press release implementing certain recommendations of the working group on digital lending’ including lending through online platforms and mobile apps. The regulatory framework introduced by the RBI in the press release is based on the principle that lending businesses can only be carried out by RBI regulated entities or entities who are permitted to do so under any other law.
For further details, please refer to the below document.
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