Articles for Digital Lending

Google removed over 2200 fraudulent loan apps from Play Store
10 months, 2 weeks ago

Google removed over 2200 fraudulent loan apps from Play Store

Deccan Chronicle  

New Delhi: The government on Tuesday informed Parliament that Google has suspended or removed more than 2,200 fraudulent loan apps from its Play Store between September 2022 and August 2023. “The government is constantly engaged with the Reserve Bank of India and other regulators and stakeholders concerned to control fraudulent loan apps,” minister of state for finance Bhagwat K Karad …

Google Loan Apps Play Store Play Store Loan Apps
Google removes 2,200 fraudulent loan apps from Play Store: MoS Finance
10 months, 2 weeks ago

Google removes 2,200 fraudulent loan apps from Play Store: MoS Finance

Hindustan Times  

The government is constantly engaged with the Reserve Bank of India and other regulators and stakeholders concerned to control fraudulent loan apps, Minister of State for Finance Bhagwat K Karad said in a written reply to Rajya Sabha. HT Image "As per the information received from MeitY, during April 2021-July 2022, Google had reviewed approximately 3,500 to 4,000 loan apps …

Cybercrime Google Loan Apps Rbi Cyber Play Store
Harmonizing Horizons: Unravelling Digital Lending Regulations in a Global Context
11 months ago

Harmonizing Horizons: Unravelling Digital Lending Regulations in a Global Context

Live Law  

Driven by technical improvements and improved internet access, digital lending is on the rise in India with the goal of improving financial inclusion. The Consumer Financial Protection Bureau plays a pivotal role in enforcing federal consumer protection laws, recently issuing guidelines tailored for digital lending platforms. United Kingdom Within the United Kingdom, oversight of digital lending platforms falls under the …

India China Consumer Consumer Protection Regulations Regulatory Digital
Mint BFSI Summit and Awards Highlights: Fintech are bringing a lot of value through innovation, says NBFID chairman
11 months, 1 week ago

Mint BFSI Summit and Awards Highlights: Fintech are bringing a lot of value through innovation, says NBFID chairman

Live Mint  

Mint BFSI Summit and Awards: The banking, financial services and insurance industry in India is the backbone of the country’s monetary, industrial and economic ecosystems. Mint BFSI Summit and Awards LIVE: Keynote Address by Governor Shri Shaktikanta Das In the entire financial services space, RBI has brought in a new regulatory framework that gives more confidence. Mint BFSI Summit and …

India Awards Industry Financial Services Indian Fintech Mutual Funds
RBI enhances UPI payment limits for healthcare and education
1 year ago

RBI enhances UPI payment limits for healthcare and education

The Hindu  

Along with steps to protect borrowers availing loans online, the Reserve Bank of India on Friday enhanced the UPI payment limits for healthcare and education from ₹1 lakh to ₹5 lakh, and the limit on recurring e-payment mandates for credit card and insurance premia payments as well as mutual fund investments to ₹1 lakh from the current limit of ₹15,000. …

Rbi Digital Lending Fintechs
Regulators should balance innovation in non-banks, mitigate risks in banks
1 year, 1 month ago

Regulators should balance innovation in non-banks, mitigate risks in banks

Live Mint  

Mumbai: There are adequate reasons for regulators and policymakers to adopt a balance between supporting growth and product innovation in the non-bank sector, and mitigating risks in the traditional banking system, said a report by the Centre for Advanced Financial Research and Learning on Tuesday. “The quality of the underwriting processes and third-party lending practices among NBFCs and FinTech companies …

Financial Fintech Sector Lending Digital Lending
7 reasons why it is essential to stay cautious of digital lending apps
1 year, 4 months ago

7 reasons why it is essential to stay cautious of digital lending apps

Live Mint  

With the rapid advancement of technology and the proliferation of smartphones, the fintech industry in India has witnessed significant growth in recent years. Predatory lending practices Digital lending apps often target vulnerable individuals who may have limited access to formal banking services or who urgently require funds. Data privacy and security concerns Digital lending apps typically require borrowers to share …

India Financial Credit Digital Apps Borrowers Lending
Empowering MSMEs through Fintech: The Role of Digital Lending in Financial Inclusion
1 year, 6 months ago

Empowering MSMEs through Fintech: The Role of Digital Lending in Financial Inclusion

Deccan Chronicle  

According to IBEF, since the inception of MSMEs, the sector has played a vital role in creating job opportunities and fostering socioeconomic development, particularly in India's semi-urban and rural areas. Offering Customized Loan Products and Flexibility: Fintech's cutting-edge technology and digital capabilities have enabled digital lending platforms to provide plenty of loan solutions specifically targeted to meet the requirements of …

Financial Financial Inclusion Digital Fintech Loans Loan Process
Cooperative banks will soon be able to do compromise settlements, write-offs on NPAs: RBI Governor
1 year, 6 months ago

Cooperative banks will soon be able to do compromise settlements, write-offs on NPAs: RBI Governor

India TV News  

Reserve Bank Governor Shaktikanta Das on Thursday said cooperative lenders will soon be able to do technical write-offs and execute compromise settlements with defaulting borrowers. RBI has decided to widen the scope of the framework for resolution of stressed assets, under which all the regulated entities including cooperative lenders will now be able to execute "compromise settlements and technical write-offs" …

Rbi Das Digital Lending Compromise Settlements
In controlled digital lending, the issue of public interest
1 year, 8 months ago

In controlled digital lending, the issue of public interest

The Hindu  

An ongoing legal tussle in the United States between four major publishers and the Internet Archive, which is a not-for-profit organisation trying to build a globally accessible digital library, has, once again, posed a fundamental question about the interface of copyright law and technological advancements — should copyright law protect the broader public interests or the commercial interests of the …

Law India Books Copyright Public Interest Libraries Physical
Fintech-Driven Digital Lending To Bridge Credit Gap In India, Says Report
1 year, 10 months ago

Fintech-Driven Digital Lending To Bridge Credit Gap In India, Says Report

News 18  

The fintech revolution is likely to spur digital lending in India, which is expected to surpass traditional avenues of lending by 2030. This will be driven by deeper inroads being made in the unsecured small-ticket size segment and the secured collateral-based high-ticket size market, according to the latest white paper Fintech-led Digital Lending: Coming of Age by Experian India in …

India Credit Digital Lenders Lending Digital Lending Fintechs
Are You A Digital Lending App User? Know Your Rights, Complaint Process
1 year, 11 months ago

Are You A Digital Lending App User? Know Your Rights, Complaint Process

News 18  

Last year the Reserve Bank of India issued guidelines on digital lending to protect customers from a range of issues including exorbitant interest rates by certain entities, data protection and grievance redressal. – REs shall ensure that they and the LSPs engaged by them shall have a suitable nodal grievance redressal officer to deal with Fintech/digital lending related complaints. – …

Digital Loan App Complaint Rbi Grievance Lending
Fintech In 2022: A Defining Year For Digital Lenders; Untapped Segments See Growth Potential In 2023
1 year, 11 months ago

Fintech In 2022: A Defining Year For Digital Lenders; Untapped Segments See Growth Potential In 2023

News 18  

The Indian economy has seen a recovery in the year 2022 after a two-year hit by the coronavirus waves in 2020 and 2021. Currently, about 40 per cent of payments by value are digital, contributing to a $3 trillion digital payment market on account of rapid expansion in digital infrastructure, UPI-led migration to digital, pandemic-led acceleration of shift in customer …

Market Indian Digital Fintech Cent Lending Upi
Could the Internet Archive Go Out Like Napster?
2 years, 3 months ago

Could the Internet Archive Go Out Like Napster?

Slate  

Two and a half years ago, the Internet Archive made a decision that pissed off a lot of writers—and embroiled it in a lawsuit that many netizens fear could weaken the archive, its finances, and its services long into the future. More than two months after the National Emergency Library kicked off, Hachette Book Group, HarperCollins, Penguin Random House, and …

Library Authors Books Emergency National Google Case
Explained | Why has the RBI come out with a framework to regulate digital lending?
2 years, 4 months ago

Explained | Why has the RBI come out with a framework to regulate digital lending?

The Hindu  

The story so far: On August 10, the Reserve Bank of India instituted a framework for regulating the digital lending landscape in the country. The latest set of regulations are based on recommendations received from its Working Group on ‘Digital Lending including lending through online platforms and mobile apps’ which was constituted last January. Lending Service Providers act in partnership …

Financial Credit Digital Interest Rates Rbi Lending Nbfc
RBI issues guidelines to regulate digital lending
2 years, 4 months ago

RBI issues guidelines to regulate digital lending

The Hindu  

The Reserve Bank of India on Wednesday issued the first set of guidelines for digital lending, to crack down on illegal activities by certain players. Stating that digital lending channels had become prominent recently, the RBI said certain concerns had also emerged which, “if not mitigated, may erode the confidence of members of the public in the digital lending ecosystem.” …

Regulatory Bank Digital Lending Entities Digital Lending Rbi Issues
Under RBI’s ombudsman scheme, 7,813 complaints received against digital apps and recovery agents
2 years, 5 months ago

Under RBI’s ombudsman scheme, 7,813 complaints received against digital apps and recovery agents

The Hindu  

As many as 7,813 complaints against banks and non-banking finance companies, pertaining to digital lending applications and recovery agents, were received under the Integrated Ombudsman Scheme of the Reserve Bank of India during the last financial year, according to the Central government. In a written reply to a question from Lok Sabha member Aparajita Sarangi, the Minister of State for …

Complaints Digital Apps Rbi Lending Digital Lending
World MSME Day 2022: Small enterprises strong pillars of India's economy & sustainable growth
2 years, 5 months ago

World MSME Day 2022: Small enterprises strong pillars of India's economy & sustainable growth

India TV News  

World MSME Day: The World MSME Day is observed annually on June 27. MSME Can Address Unemployment Lakshmi V Venkatesan, founding and managing trustee, Bharatiya Yuva Shakti Trust, said that the sector, which boosts exports and GDP, can serve the needs of India’s youth very well – to help the ‘population dividend’ of 2 crore fresh job seekers entering the …

India Economy Employment Growth Payments Digital Payments Digital
RBI To Soon Come Out With Guidelines On Digital Lending, Says Shaktikanta Das
2 years, 6 months ago

RBI To Soon Come Out With Guidelines On Digital Lending, Says Shaktikanta Das

News 18  

Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will soon issue guidelines and measures to make the digital lending ecosystem safe while enhancing customer protection and encouraging innovation. He also said the recommendations of the RBI Working Group on digital lending are under examination for the issuance of the guidelines. “We have recently set up …

Financial Recovery Regulatory Digital Rbi Das Digital Lending
RBI finds 600 illegal lending apps operating in India
2 years, 8 months ago

RBI finds 600 illegal lending apps operating in India

India Today  

A Reserve Bank of India Working Group on digital lending has identified a whopping 600 illegal lending apps operating in India in the last year. As per RBI, “Sachet”, a portal established by RBI against unregistered entities, has received approximately 2,562 complaints against digital lending apps between the start of January 2020 to end of March 2021. In December 2020, …

India Google Digital Apps Platforms Rbi Lending
RBI report finds 600 illegal loan apps operating in India
3 years, 1 month ago

RBI report finds 600 illegal loan apps operating in India

The Hindu  

A Reserve Bank of India Working Group on digital lending, including lending through online platforms and mobile apps, has stumbled upon more than 600 illegal loan apps operating in India. In course of its filed work to prepare a detailed report on digital lending and to suggest recommendations, the WG found out the existence of over 1,100 unique loan apps …

India Complaints Loan Apps Rbi Lending Digital Lending
How 2 IIT-Delhi alumni aim to address India's big NPA problem
3 years, 1 month ago

How 2 IIT-Delhi alumni aim to address India's big NPA problem

India TV News  

Non-Performing Assets problem is a issue that several countries including India are finding it hard to address. Credgenics, is a recovery and technology enabled collections platform that works with financial institutions, banks, NBFCs & digital lending firms to improve their collections efficiency. Founded in 2018 by two IIT Delhi Alumni Rishabh Goel and Anand Agrawal, and advocate Mayank Khera, Credgenics …

India Legal Recovery Data Management Data Management Indian
Experience Bank of Maharashtra’s hassle free Digital Lending platform
3 years, 1 month ago

Experience Bank of Maharashtra’s hassle free Digital Lending platform

Hindustan Times  

- Zero processing charges on Housing Loan and Car Loan during ongoing festive season - Lucrative Rate of Interest With changing lifestyles and increased demand for luxury, the surge in auto and home loan is visible in every nook and corner of the country. Considering the consumer demand, Bank of Maharashtra, a premier public sector bank in the country, has …

India Bank Loan Process Experience Platform Lending
RBI receives complaints against 1,509 digital lending apps
3 years, 10 months ago

RBI receives complaints against 1,509 digital lending apps

India TV News  

The Reserve Bank of India intimated that it has received complaints against 1,509 digital lending applications, Minister of State for Finance Anurag Singh Thakur said in a written reply to the Lok Sabha on Monday. The RBI has received complaints against 1,019 unregistered or unregulated digital loan applications and 490 registered NBFCs that are engaged in digital lending, he said. …

Digital Rbi Lending Digital Lending