This adds to recent restrictions, where the RBI through a guideline put an end to the loading of PPIs through credit lines, another common model that was in use to offer BNPL. Co-lending models are an exception: Yet another exception under the DL guidelines is for co-lending models, ...
Digital lending guidelines protect customers and promote trust In August 2022, the RBI published a set ofmuch anticipated regulationsthat were tailor-made for digital lenders. The guidelines put requirements in place to protect customers’ interests and established rules around fees, the use of digital...
Additionally, since September 2022, escrow accounts have become indispensable for co-lending use cases. According to the digital lending guidelines by RBI, all loan repayment and disbursement must be done directly between the bank account of lender and borrower. This means that no third party pass...
India is on the verge of a digital lending revolution and making sure that this lending is done responsibly can ensure the fruits of this revolution are realized. As several players have access to sensitive consumer data, there must be clear guidelines around, for example, the type of data ...
In compliance with RBI’s revised guidelines, P2P lending platforms like Faircent and LiquiLoansredesignedtheir functions in August 2024. The companies temporarily paused the infusion of fresh funds, with the latter promising changes to its technological structure, while the former halted the mechanism...
In compliance with RBI’s revised guidelines, P2P lending platforms like Faircent and LiquiLoansredesignedtheir functions in August 2024. The companies temporarily paused the infusion of fresh funds, with the latter promising changes to its technological structure, while the former halted the mechanism...
It is expected to be piloted around the second quarter of 2022. The second phase will include innovation and new use cases, as well as collaboration from private players and technology partners. Some of the guidelines laid down by the Central Bank state that their CBDCs would be cash-like, ...
3 Potential estimate of economic value from ow-based lending, plus economic value created through digital payments. 4 Excluding e ects of business digitisation in nancial services, agriculture, education, retail, logistics, energ...
The IT Ministry may also suggest another round of consultations with the industry, startups, and other stakeholders on the bill.
The RBI isalso runningpilot experiments with using the Central Bank Digital Currency (CBDC) to provide credit to tenant farmers, who often struggle to access agricultural credit as they do not have the land title to submit to banks or lending institutions. ...