Monday, March 17, 2025 | 01:58 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Fintech Association applies to RBI for SRO role in digital lending space

This follows an RBI working group, tasked with studying digital lending by regulated and unregulated financial sector players, recommended creation of SROs to check the activities of such lenders

Lending
Premium

Representative image

Subrata Panda Mumbai
Fintech Association for Consumer Empowerment, or FACE as it is popularly known, has applied to the Reserve Bank of India (RBI) to take on the role of a self-regulatory organisation (SROs) in the digital lending space. This comes after a working group of the central bank, tasked with studying digital lending in the regulated financial sector as well as by unregulated players, recommended creation of SROs, among other things to keep a check on the activities of digital lenders.

During the pandemic, the number of lending apps went up substantially as financial distress gripped the nation. But many apps were

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in