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RBI forms panel to look into digital lending practices
MUMBAI (Reuters) - The Reserve Bank of India said on Wednesday it had formed a working group to look into digital lending practices, following reports of policy violations and borrower harassment by several digital lending apps in India.
RBI says bad debt surge threatens India’s financial stability
NEW DELHI: India’s central bank expects banks’ bad-loan ratios to almost double this year and warned that soaring markets and a weakened economy threaten financial stability.
Thailand unveils US$7bil stimulus to counter virus impact
BANGKOK, Jan 12 (Bloomberg): Thailand unveiled stimulus programmes including cash handouts worth 210 billion baht (US$7 billion) to support millions of individuals and businesses affected by the country’s biggest wave of coronavirus infections since the pandemic began a year ago.
Govt to continue rolling out Budget 2021 measures, Zafrul says
KUALA LUMPUR: The government will continue to roll out the measures in Budget 2021 to firmly place Malaysia on its recovery path in 2021, Tengku Datuk Seri Zafrul Abdul Aziz says.
Indonesian start-ups seek to expand, accumulate more funding in 2021
JAKARTA (The Jakarta Post/ANN): Indonesian start-ups are looking forward to more funding and clearer paths to profitability in 2021 as the technology industry blooms amid the Covid-19 pandemic, with optimism in the sector fuelled by ample dry powder.
Exclusive: Chinese regulators to push tech giants to share consumer credit data - sources
HONG KONG (Reuters) - China plans to push tech giants including Ant Group, Tencent and JD.com to share consumer loan data to prevent excess borrowing and fraud, two people with knowledge of the matter said, in Beijing's latest tightening of scrutiny.
Some lending apps thrive on India's Google Play despite policy violations
MUMBAI (Reuters) - At least 10 Indian lending apps on Google's Play Store, which have been downloaded millions of times, breached Google rules on loan repayment lengths aimed at protecting vulnerable borrowers, according to a Reuters review of such services and more than a dozen users.
Lenders stay resilient
PETALING JAYA: Despite the Covid-19 pandemic showing no signs of abating, the Malaysian banking sector as a bellwether of the economy is expected to hold up from being downgraded by international rating agencies.
