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HomeFintechHow digital lending ecosystem’s triad of RBI, lenders and consumers can close ranks to tackle fraudulent apps
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How digital lending ecosystem’s triad of RBI, lenders and consumers can close ranks to tackle fraudulent apps

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There is a need for a nodal agency to register and evaluate the digital lending apps. The rapid digitisation of financial services has been one of the key enablers for access and enhanced consumer …



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Why is RBI not sharing the whitelist of digital lending apps?

Winston
In February this year, the Ministry of Finance told the parliament that a whitelist of permitted digital lending apps has been given by the RBI to the IT Ministry, which in turn has sent this list to app stores. With regard to this, we filed an RTI request with the RBI, asking it for a copy of the whitelist. The central bank refused to share the whitelist of permitted digital lending apps (DLA) sent to the Google Play Store and Apple App Store stating that the information sought is a...