India to prepare a list of approved of digital lending apps

FILE PHOTO: A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis Mascarenhas/File Photo

MUMBAI (Reuters) -The Indian government is stepping up scrutiny on digital lending apps in an attempt to weed out ones which conduct unethical lending and recovery practices, the government said in a notification on Friday.

The central bank has been asked to prepare a list of legal digital lending apps while the government will help ensure that only such apps conduct lending, it said.