Business StandardDec 20, 2022Why are government and regulators uneasy about fintech's rise?Taking note of a host of complaints, the Reserve Bank of India had come out with the first leg of the digital lending norms in August. It allowed loan disbursals only by entities regulated by the banking regulator.The government too recently launched a cracked down on several illegal lending apps which were exploiting gullible customers, charging high interest rates and issuing threats. Some of them are said to have Chinese connections.Read more at Business Standard
Taking note of a host of complaints, the Reserve Bank of India had come out with the first leg of the digital lending norms in August. It allowed loan disbursals only by entities regulated by the banking regulator.The government too recently launched a cracked down on several illegal lending apps which were exploiting gullible customers, charging high interest rates and issuing threats. Some of them are said to have Chinese connections.Read more at Business Standard
