Digital Lending

The initial focus of the Unified Lending Interface is to provide small-ticket loans and improve collection efficiency

A definition of "unregulated lending activities" to cover loans offered outside the scope of existing regulations, including digital lending platforms

BS BFSI Summit: RBI is actively working to link UPI with other countries, aiming for global acceptance that would allow Indians abroad to make payments using UPI, said RBI Deputy Governor

FACE's membership may expand to 180 from 80 as it diversifies and becomes more inclusive

Access to banking, investment, credit and commerce has to be simplified in villages. A network of technology and local trust will help financial inclusion

Moving pieces need to be synchronised for Unified Lending Interface to work

Seamless delivery of credit and a quicker turnaround time without requiring extensive documentation will benefit both borrowers and lenders

Digital banking platform Freo is eyeing 25-30 per cent growth in its gross revenue for the current fiscal, co-founder Anuj Kacker said, adding that the company remains sharply focused on profitability. Kacker told PTI that RBI's recent announcement on the creation of a public repository of Digital Lending Apps (DLA) linked to regulated entities is a good move that would improve confidence around the digital lending ecosystem. He said that Freo's business is growing across multiple verticals, and the company remains steadfast in its resolve to maintain profitability. "This year, we are expecting a 25-30 per cent growth in gross revenue, and in the net revenue by 50-60 per cent as our share in gross revenue will increase," he said. Freo clocked gross revenue of Rs 350 crore for FY24. The company has been profitable since December 2023. "We have been profitable in the June quarter of the current financial year, and for the September quarter also we expect to be profitable," he said o

It will help people find out of a digital lender has a relationship with a bank or NBFC

The Reserve Bank on Thursday proposed to create a public repository of digital lending apps in a bid to address the problems arising from mushrooming unauthorised players in the segment. In another significant move, the central bank proposed to introduce a facility of "Delegated Payments" in UPI to enable an individual to allow another individual to make UPI transactions. In a post-monetary policy review address, RBI Governor Shaktikanta Das said the central bank has taken several measures for the orderly development of the digital lending ecosystem in India. In a bid to address the problems arising from unauthorised digital lending apps (DLAs), he said the RBI proposes to create a public repository of DLAs deployed by its regulated entities. "The regulated entities (REs) will report and update information about their DLAs in this repository. This measure will help the consumers to identify the unauthorised lending apps," Das said. On introduction of 'Delegated Payments' through U

44% of them expect to collect more than 50% of deposits through online modes

An SRO is a non-governmental organisation that acts as a bridge between industry players and the regulator. It also sets standards for the conduct of entities operating in the country

Thailand's prime minister said on Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April the widely criticised ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about USD 275) to 50 million citizens in digital money to spend at local businesses. Prime Minister Srettha Thavisin posted on the social platform X, saying the registration will begin on August 1 and that he has given instructions to ensure the smooth implementation of the program. The Digital Wallet was a major campaign promise of the ruling Srettha's Pheu Thai party ahead of last year's general election. The government says that this scheme will cause an economic tornado, and Srettha has said the stimulus and subsequent consumption are expected to boost gross domestic product growth by 1.2 to 1.6 percentage points. However,

The share of digital loans has increased from 1.8% of total retail loans in FY22 to around 2.5% in FY24, revealed a report by Redseer Strategy Consultants

Jaipur-based lender had filed its preliminary papers with the capital markets regulator in May this year

Fintechs accounted for 50% of the loan volumes disbursed with a ticket size less than Rs 1,00,000 in FY18

Many gullible borrowers are often defrauded of their money by fraudulent loan apps

Finance Minister Nirmala Sitharaman on Wednesday asked financial sector regulators, including the Reserve Bank of India (RBI), to take further measures to check spread of unauthorised lending through online apps. Addressing the 28th meeting of the Financial Stability and Development Council (FSDC) here, Sitharaman also asked regulators to maintain constant vigil and be proactive towards detecting emerging financial stability risks, given the domestic and global macro-financial situation. The FSDC deliberated on issues related to macro financial stability and India's preparedness to deal with them, an official statement said after the meeting. The ongoing inter-regulatory issues were also discussed to support GIFT IFSC in its strategic role to become one of the world's premier international financial centres and perform its envisioned role of facilitating foreign capital and financial services for the domestic economy, it said. The FSDC discussed various issues related to the ...

Providing critical information about the terms of the loan agreement, including the all-inclusive interest cost, will significantly benefit borrowers in making informed decisions

Members of the Digital Lenders Association of India (DLAI) contributed 7.9 per cent and 19.8 per cent to originations value and volume respectively in FY23, it noted