scorecardresearchDigital loan borrowers to get a safety shield in the latest RBI’s rules. An explainer

Digital loan borrowers to get a safety shield in the latest RBI’s rules. An explainer

Updated: 16 Aug 2022, 08:35 AM IST
TL;DR.
The banking regulator has released a regulatory framework for fintech firms which have lately been condemned for disbursing loans without the explicit consent of borrowers. Read further to know how the latest rules are set to safeguard the borrowers
Now fintech firms will be prohibited from automatically raising the credit limit without an explicit consent of borrowers.

Now fintech firms will be prohibited from automatically raising the credit limit without an explicit consent of borrowers.