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ARTICLE · 17 JULY 2025

RBI (Digital Lending) Directions, 2025 – Same Same, But Different

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On May 8, 2025, the Reserve Bank of India ("RBI") issued the Reserve Bank of India (Digital Lending) Directions, 2025 ("2025 Directions") with an objective to consolidate, streamline, and update the regulatory framework...

IndiaFinance and Banking
Rohan Bagai
Rohan Bagai
Nipun Sawhney
Nipun Sawhney
Subham Das
Subham Das
Shruti Agrawal
Shruti Agrawal
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A. On May 8, 2025, the Reserve Bank of India ("RBI") issued the Reserve Bank of India (Digital Lending) Directions, 2025 ("2025 Directions") with an objective to consolidate, streamline, and update the regulatory framework that governs digital lending by Regulated Entities ("REs"). The 2025 Directions not only subsume various prior circulars and guidelines under the Existing DL Framework (defined below) but also introduce new compliance obligations aimed to strengthen transparency, customer protection, data privacy, and accountability in digital lending operations.

B. Prior to the issuance of the 2025 Directions, the existing instructions and guidelines in respect of digital lending, which collectively formed the digital lending regulatory framework ("Existing DL Framework") included:

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