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.
The recent spurt of popularity of online and mobile lending platforms "has raised certain serious concerns which have wider systemic implications," the RBI said in its release.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
