Delhi HC directs RBI, Centre to ensure strict compliance of regulatory framework on digital lending

The Delhi High Court Wednesday directed the Reserve Bank of India and the Centre to ensure the implementation of the central bank’s framework on regulation of digital lending platforms.

A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad in its January 25 decision observed that the RBI had issued a framework on August 10, 2022, on the regulation of digital lending platforms, including online lending platforms and mobile applications, based on the recommendations of its working committee, and hence no further orders were required.