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RBI Issues Stricter Norms for Digital Lenders to Reinforce Borrower Safeguards
News
10 May 2025
1 min read
434
The Reserve Bank of India (RBI) has rolled out a fresh set of regulations aimed at tightening control over digital lending platforms and ensuring stronger borrower protection. The move comes amid growing concerns around mis-selling, lack of transparency, and unethical recovery practices in the digital credit space.
Key measures include mandatory unbiased loan display by lending apps, stricter due diligence obligations for banks and NBFCs partnering with fintechs, compulsory grievance redressal timelines, and reporting of all digital lending apps to the RBI’s CIMS portal.
With these new norms, the RBI seeks to restore trust and accountability in a rapidly expanding digital lending ecosystem that has often operated in regulatory grey areas.
Reference: ET BFSI
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