New RBI norms keep third party out of digital lending process
By
Biju Kumar
The Reserve Bank of India on Wednesday said disbursal of loans and collection of repayments must be executed only between borrowers and entities regulated by it, and that no third party should be involved in this process.
The direction is part of the first set of operational guidelines it issued for banks and non-bank lenders who employ digital lending apps, to bring such services under tighter supervision.