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ARTICLE · 28 MARCH 2022

RBI WG Report Sets The Stage For Regulation Of Digital Lending

Ikigai Law
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Regulation of digital lending in India now seems imminent.

IndiaTechnology
Ikigai Law
Ikigai Law
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This post analyses the impact of the RBI Working Group's Report on Digital Lending Apps. It covers key recommendations made by the Working Group relating to credit-risk sharing, data privacy and security, artificial intelligence and buy-now-pay-later products.

Regulation of digital lending in India now seems imminent. The RBI has been questioning buy-now-pay-later (BNPL) providers about their business models, credit risk sharing arrangements, data collection practices and credit-scoring algorithms. To understand what direction the RBI may take, we decided to analyse the RBI report which could form the bedrock of the future regulation.

In November 2021, the RBI released its much-awaited report (Report) on regulation of digital lending apps (DLAs). Much to the industry's relief, it steers clear of imposing any licensing requirements on digital lenders. But if the Report's recommendations are implemented, some digital lenders may have to change their existing

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