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Digital Lending: What is it, its significance and suggestion by RBI ?

  Jan 01, 2021

Digital Lending: What is it, its significance and suggestion by RBI ?

 Q. Why is this in news? 

Q. What is Digital Lending?
It consists of lending through web platforms or mobile apps, by taking advantage of technology for authentication and credit assessment.

Q. What are the significance of Digital Lending?

Q. What are some of the Issues with Digital Lending Platforms?
Growing number of unauthorised digital lending platforms and mobile applications as:

Q. What are the steps taken by RBI in this regard?  
Non-Banking Financial Companies (NBFCs) and banks need to state the names of online platforms they are working with.

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