No more charging exorbitant interest rates: RBI tightens norms for digital lending
Updated: 11 Aug 2022, 07:46 AM IST
TL;DR.Under the new norms, all loan disbursals and repayments are required to be executed only between the bank accounts of borrower and the regulated entities (like banks and NBFCs) without any pass-through/ pool account of the Lending Service Providers (LSPs).
The Reserve Bank of India. (AFP File Photo)