MeitY only wants apps not run by regulated firms removed: RBI Dy Governor

Says central bank merely provided ministry a list of apps operated by regulated entities, had not suggested any ban

The Reserve Bank of India (RBI) had not suggested banning any digital lending apps but had merely provided the government with a list of apps that RBI-regulated entities use for their lending activities, the central bank said on Wednesday. The clarification comes after the Ministry of Electronics and Information Technology (MeitY) began blocking scores of digital lending apps and websites.

Commenting on the development, M Rajeshwar Rao, Deputy Governor, RBI, said, “We have not suggested banning any digital lending apps. We have (only) shared with the ministry the list of apps that are used by entities regulated by RBI. The