Lending Service Providers Lsp

RBI on Friday released draft guidelines on digital lending to ensure transparency in aggregation of loan products from multiple lenders by lending service providers so that borrowers get prior knowledge about all credit offers that are available.

The RBI has issued stringent norms for digital lending services and apps, as part of its attempts to curb malpractice in the sector. The central bank has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, digital lending entities and not the borrowers should pay fees or charges p...

RBI on Friday released draft guidelines on digital lending to ensure transparency in aggregation of loan products from multiple lenders by lending service providers so that borrowers get prior knowledge about all credit offers that are available.

The RBI has issued stringent norms for digital lending services and apps, as part of its attempts to curb malpractice in the sector. The central bank has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party, digital lending entities and not the borrowers should pay fees or charges p...