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RBI panel suggests separate law to prevent illegal digital lending activities

RBI panel suggests separate law to prevent illegal digital lending activities

Nov 22, 2021, at 05:21 am

Mumbai/IBNS: A Working Group formed by the Reserve Bank of India (RBI) has made several recommendations, including separate laws to stop illegal digital lending activities, verification of digital lending apps by a nodal agency and establishing a self-regulatory organisation (SRO) covering the participants in the digital lending ecosystem.