Fintech lenders align business model with RBI's digital lending norms

With the Reserve Bank of India’s (RBI’s) digital lending guidelines kicking in, players operating in this space have made the requisite operational changes, and in some cases, tweaked their business model to align with the norms prescribed by the regulator. 

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the ‘existing loan’ category. 

The norms mandated that all loan disbursements and repayments are required to be executed only between the bank accounts of the borrower and the regulated entity (RE), without any pass-through/pool account of the