 "Reserve Bank of India, RBI")
The Reserve Bank of India (RBI) has instituted a framework to regulate digital lending. Its new regulations are based on recommendations from a working group set up in January 2021 on ‘Digital lending including lending through online platforms and mobile apps’ (WGDL). What are the new regulations and why have they been introduced?
Who are digital lenders?
RBI has categorised digital lenders into three groups:
- Entities which are regulated by the RBI and are allowed to carry out lending business.
- Entities that are authorized to carry out lending as per other statutory or regulatory provisions but are not regulated by the
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