RBI seeks transparency with digital view of loans
Business Standard|April 27, 2024
The Reserve Bank of India (RBI) has come out with draft guidelines for 'Digital Lending Transparency in Aggregation of Loan Products from Multiple Lenders.
AJINKYA KAWALE

This is to ensure that lending service providers (LSPs) provide a digital view of the loans they offer to customers in partnership with other entities. It is set to bring in the much-needed transparency in the system.

The banking regulator, in a draft circular on digital lending, said the identity of a potential lender may not be known to a borrower in cases where an LSP has arrangements with multiple lenders.

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