scorecardresearchRBI’s latest diktat to digital lending apps: What it means for borrowers? An explainer

RBI’s latest diktat to digital lending apps: What it means for borrowers? An explainer

Updated: 09 Sep 2022, 04:08 PM IST
TL;DR.
The latest rules issued by the banking regulator on September 2 state that the lending apps can not access borrowers’ mobile phone resources & are not supposed to raise the credit limit without their consent. Read further to know more
The regulated entities have time until November 30 to adhere to the regulator’s guidelines

The regulated entities have time until November 30 to adhere to the regulator’s guidelines