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ARTICLE · 31 AUGUST 2022

RBI'S Recent Guidelines To Regulate Digital Lending

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The Reserve Bank of India responsible for regulating the financial and banking system of our country has framed a new set of guidelines to regulate Digital lending.

IndiaFinance and Banking
Rupin Chopra
Rupin Chopra
Apalka Bareja
Apalka Bareja
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The Reserve Bank of India responsible for regulating the financial and banking system of our country has framed a new set of guidelines to regulate Digital lending. The Guidelines have been issued vide a press release dated August 10, 2022, on the recommendations of the report submitted by the 'Working Group on digital lending' WGDL in January 2021. The group recognizes lending through digital platforms like mobile apps and online portals along with curbing the illegitimate transactions recurring in our accounts.

Highlights of the Recommendations of the Working group on Digital Lending

1. Appointment of the Nodal Grievance Redressal Officer:

  • It is the responsibility of the Banks to appoint a Nodal Grievance Redressal Officer that can monitor complaints regarding the fintech or digital lending matters;

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