Page 5 - Digital Lending

India aims to copy China, but unbridled digital lending off policy agenda

The Reserve Bank of India's recently released guidelines for app-based loans show a clear desire to rein in the industry after its pandemic-era excesses

The path to greater financial inclusion

Data for 2021 suggest that at least 76 per cent of the global population holds a bank account

RBI's digital-lending rules: Paytm's BNPL biz may need operational tweaks

Analysts have said that they will be watchful of the operational impact of the new norms, especially on customer convenience of the payment firm

RBI guidelines may lead to high compliance cost for digital lending apps

Industry associations are likely to approach the RBI to weed out any interpretational ambiguity

Regulating digital lending

Rules are in the right direction

RBI issues digital lending norms, reserves space for regulated entities

Only entities regulated by RBI or other bodies permitted by law can carry out digital lending, says RBI

RBI tightens digital lending norms to prevent charging of exorbitant rates

Companies cannot increase users' credit limits without their explicit consent, says RBI

Top headlines: Hindalco Q1 net jumps 48%; RBI's digital lending guidelines

The Reserve Bank of India (RBI) on Wednesday released its guidelines for digital lending, listing companies allowed in the business, the rules for loans and data collection, and how fee is charged

Future of fintechs is in lending-led players, not payments: Report

With the funding to fintechs seeing a sharp 30 per cent drop in the June quarter, valuation is expected to shift from payments to lending-led fintechs, according to a report

BNPL credit facility used without caution can lead to a debt trap

Understand all the attendant costs of this facility; delayed repayment will hit your credit score

Don't exceed your licence brief: RBI governor Das tells fintech firms

The RBI's notification regarding PPIs had sent the entire fintech world, especially the buy now pay later (BNPL) industry, into a tizzy

Digital lending firms should operate under licence granted: RBI governor

Central bank last month banned the loading of prepaid payment instruments from credit lines

Loan disbursements for Paytm up nine-fold to over Rs 5,550 crore

The number of loans disbursed through our platform grew 492% y-o-y to 8.5 million loans in the quarter ending June 2022, while the value of loans disbursed grew 779% y-o-y to Rs 5,554 crore ($703 mn)

DeFi can't hold a candle to the centuries-old trust-based system hawala

Decentralized finance needs to give up on its techno-anarchist utopia, and get more real and centralized. Otherwise DeFi lending will enter annals of finance as failure where hawala has been success

Most e-lending apps not registered with RBI: Governor Shaktikanta Das

The RBI website has a list of apps that are registered with it on the website, the governor said

Paytm lending business records annualised run-rate of Rs 20,000 cr in April

Offline payments business accelerated as total number of devices deployed jumped to 3.2 million, with 0.3 million devices deployed in April

Find out why your credit report shows a loan you don't remember taking

Loans can be issued to you both legally and fraudulently. So if there's a suspicious entry in your credit report, get to the bottom of the matter immediately

Monetary policy: RBI to revisit KYC rules after digital lending fraud

RBI Governor Shaktikanta Das said the RBI actions on KYC rules have to be in consonance with the Prevention of Money Laundering Act (PMLA)

RBI to soon come out with digital lending guidelines: DG Rajeshwar Rao

In November last year, the working group on digital lending, including lending through online platforms and mobile apps, had submitted their recommendations

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