Page 3 - Digital Lending

Digital lending may surpass traditional lending on unsecured loans by 2030

The fintech revolution is likely to spur digital lending in India, which is expected to surpass traditional avenues of lending by 2030, a report showed on Tuesday.

Digital lending firm Lentra enters Indonesia, Philippines, Vietnam

Company aims to reach $100 mn in annual recurring revenue by March 2024 in South East Asia nations

Govt asks blocked lending apps to submit documents proving legality

Even as the ministry sources first said the crackdown was on illegal platforms with Chinese links, several Indian apps were blocked for downloading

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

Digital lending apps issue clarifications after Centre's ban on loan apps

Some digital lending apps issued clarifications as the industry entered a panic mode after the Centre banned nearly 138 gambling apps and 94 loan apps over "Chinese linkage" concerns

Fintech players confused after app ban, say clueless about govt's reasons

Industry players and associations rush to MHA and Meity seeking clarity; Google reviewing govt request

Expect bold changes in the year 2023

India is making rapid strides in the area of digital banking, meeting the expectations of a digitally agile customer base in the information age

BS BFSI Insight Summit 2022: Who's leading the way in banking technology?

From Ranjeeth Bellary, Partner, EY Forensic & Integrity Services to Rajsri Rengan, HoD - Banking & Payments, India & Philippines, FIS here are panelists who will speak on Technology in Banking

BS BFSI Insight Summit 2022: NBFC bigshots to speak on prospects ahead

From Ramesh Iyer, VC & MD at Mahindra Financial Services to Rakesh Singh, MD & CEO at Aditya Birla Finance, here is the list of panelists from NBFCs

BS BFSI Insight Summit 2022: Meet the leaders of digital, payments banks

From Airtel Payments Bank's COO Ganesh Ananthanarayanan to Parag Rao, Country Head for Payments Business, Consumer Fin, Digital Banking at HDFC Bank, here are panelists from digital & payment banks

Digital lenders seek cap on default loss guarantee models from RBI

They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright

Paytm in focus as board considers buyback; IIAS raises key concerns

The buyback proposal comes less than 13 months of Paytm's disastrous listing, which saw its shares tank as much as 80 per cent

Digital lending apps: RBI received 13,000 complaints against banks, NBFCs

The grievances, filed under RBI's integrated ombudsman scheme of 2021 between April 2021 and Nov 2022, also cite harassment by recovery agents

Paytm lending biz at annualised run rate of $4.8 bn, disburses 6.8 mn loans

The usage of Paytm Super App has also hit another high as the company said its average monthly transacting users is at 84 million for the two months ended Nov 2022

CBDC versus the rest: Can RBI's digital currency replace physical cash?

The central bank digital currency is unlikely to replace cash and other digital mediums of transactions but could coexist with them

Retail CBDC a game-changer, should improve monetary transmission: SBI chief

Anonymity factor is critical for its acceptance, asserts Dinesh Khara

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

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

RBI's modified digital lending norms to come in effect from Dec 1

The Reserve Bank's modified guidelines on digital lending that seek to protect customers from exorbitant interest rates by certain entities and also check unethical loan recovery practices will come into effect from Thursday. Under the new norms, all loan disbursals and repayments are required to be executed only between the bank accounts of borrower and the regulated entities (like banks and NBFCs) without any pass-through/ pool account of the Lending Service Providers (LSPs). Also, "any fees, charges, etc, payable to LSPs in the credit intermediation process shall be paid directly by RE and not by the borrower", the Reserve Bank said in a press release while conveying the regulatory stance. Executive Chairman of Andromeda Loans, V Swaminathan, said, that since digital loans and online repayments have gained more prominence post-pandemic, the need of the hour is competent systems and processes that would further strengthen data privacy and security of confidential information share

This company promises to let feature phone users make UPI transactions

The Mumbai-based fintech company says by using its services, feature phone users can access their bank accounts, transfer funds, and make bill payments by giving a missed call

CBDT proposes common ITR with focus on crypto assets declaration

New return to also seeks details on foreign equity and debt held by resident Indians; much more exhaustive list for NRIs