Insights
Implementation of recommendations of working group on digital lending
August 12, 2022On 10 August , 2022 the Reserve Bank of India (“RBI”) issued a press release titled ‘Recommendations of the Working group on Digital Lending – Implementation’ (“Press Release”) and introduced the first set of recommendations to be implemented by regulated entities (“REs”)1 and lending service providers (“LSPs”)2 with immediate effect. These guidelines focus extensively on consumer protection and through these guidelines RBI has tried to balance fintech innovation and customer protection.
